0830 Registration and morning coffee
来宾注册及茶点接待
0900 Chairman’s welcome and opening remarks
大会主持致欢迎词
Fraser Cowie, Executive Director, Global Business Development, NYSE Liffe
0910 Keynote address: The development of interbank derivatives market in 2010
NAFMII主题演讲：2010年银行间衍生产品市场的发展趋势
FENG Guanghua, Deputy Secretary, National Association of Financial Market Institutional Investors (NAFMII)
0940 What role should derivatives play in shaping China’s debt capital markets?
衍生产品在中国债务资本市场发展中所发挥的作用
FENG Ping, Head of Hybrids and Structured Products, Nomura
John Goff, Head of Asia ex-Japan Fixed Income Structuring, Nomura
1010 Asian economic and FX Outlook
亚洲经济和外汇汇率的展望
- Economic outlook – Asia vs. rest of world
- Currency outlook – Asian currencies vs. USD
- Is the current low interest rate environment sustainable?
- China and its future position on the global stage
THIO Chin Loo, Senior Strategies, Foreign Exchange and Interest Rate, Asia, BNP Paribas
1040 Networking coffee break
茶歇
1120 Managing the trillion dollar Chinese FX pool
中国未来如何打理数万亿外汇储备
- China’s FX reserve allocation
- FX inflow vs. outflow
- Impact of USD fluctuation on the FX pool
- Policy initiatives for full convertibility of RMB
- Utilising RMB as an acquisition currency
Dr. CHENG Bing, Head of Interest Rate Trading, DBS
1150 Examining the impact of the financial crisis on international master agreements
金融危机对全球衍生产品交易文件的深远影响
Patrick Phua, Counsel, Clifford Chance
1220 China and Taiwan: Prospects for fixed income and FX derivatives in OTC markets
中台两地外汇和利率场内衍生产品的最新发展
- Product developments and trading volume in FX and rates markets
- Current state of debt capital markets
- Managing the credit and currency risks
- Development of short term and long term fixed income hedging instruments
- Prospects for CDS markets
Moderator: YANG Tiecheng, Counsel, Clifford Chance
Roger Xu, Executive Director, Fixed Income, CICC
JOU Horlick, Senior Vice President, Head of Treasury Marketing, First Commercial Bank of Taiwan
Mark Liu, Head of Global Markets, SGCIB Taiwan
1300 Lunch
午餐
1415 Panel discussion: Hedging asset risks in cross boarder investment
基金专题讨论：海外投资前景展望
- What to invest in?
- Asset allocation in improving market conditions - equities vs. bonds
- Defensive strategies in a volatile environment
- How to efficiently manage asset risks
Moderator: Didier J. Rault, Chairman and Founder, World Mining Investment and International Finance Capital
Dr. CHANG Soon Young, Chairman, Midas International Asset Management
REN Wen Dong, Managing Director, Hua Ke Investment Management
GAO Sheldon, President, China Universal Asset Management (HK)
1500 Panel discussion: What are the missing links in structured products?
小组讨论：结构性产品中缺掉的联系
- Effect of new regulatory tightening on the structured product industry
- Could structured products withstand the volatility?
- What asset classes represent the best value for structured products?
- Development of institutional structured credit in Asia
- Will structured credits ever come back?
- Should leverage be reduced in structures?
- How to regain investor confidence?
Moderator: Paget Dare Bryan, Partner, Clifford Chance
LEE How-Chih, Director, Credit Derivatives Trading, Barclays Capital
Andrew Liu, Director, Structured Risk Solutions, RBS
Hisataka Muto, Vice President, Commodities Structuring, Deutsche Bank
1545 Networking coffee break
茶歇
1615 Assessing the risk and cost in the OTC Derivatives market
评估场内衍生产品的风险和成本
- OTC derivative compressions
- Critical tool to reduce risk and cost
- Free up credit lines resulting into improved market liquidity
- Proactive portfolio reconciliation
- Foundation for effective credit risk exposure and collateral management
- Crucial tool for risk managers
John Chiah, Senior Account Executive, TriOptima
1645 Financial model as the key to doing derivatives business
衍生产品要发展，金融模型要先行
LIN Xiao, Deputy General Manager of Capital Market Department, China Everbright Bank
1715 Panel discussion: Interbank funding market – prospects for FX and IRS markets
小组讨论：银行同业融资市场——中国外汇和利率衍生产品的市场前景展望
- Impact of Notice 74 on derivatives practices
- Effect of collateral requirements on swap liquidity
- Developing the market driven benchmark and hedging instruments for money market instruments
- Bridging the liquidity imbalance in interbank markets
- How to effectively manage FX and rates risks in light of regulatory tightening
- Gearing up the return for institutional investors in a deleveraged world – what will be the risk management framework for institutional clients?
- Prospects for financial futures and institutional structured products
Moderator: John Goff, Head of Asia ex-Japan Fixed Income Structuring, Nomura
WANG Wei Dong, Senior Manager, Global Markets, Bank of China
Dr. ZHANG Xing Sheng, Deputy General Manager, Treasury Department, ICBC
CAO Shou Nian, Deputy General Manager of Financial Markets, China Construction Bank
LIN Xiao, Deputy General Manager of Capital Market Department, China Everbright Bank
Racky Shum, Head of Trading, JPMorgan
1800 Close of day one followed by cocktail reception
第一天大会结束及酒会
0900 Registration and morning coffee
来宾注册及茶点接待
0930 Chairman’s welcome and opening remarks
大会主持致欢迎词
Didier J. Rault, Chairman and Founder, World Mining Investment & International Finance Capital
0940 Commodity derivatives in China
中国的商品衍生产品市场
- Potential size of the market and product development
- Liquidity and trading volume
- Opportunity and challenges for operating commodity exchanges in China
WANG Yufei, Director of Strategic Planning, Dalian Commodities Exchange
1010 Global trends in exchange traded and OTC derivatives markets
全球场内和场外衍生产品市场的发展趋势
- Current market challenges in exchange traded derivatives
- Exchange traded derivatives market vs. OTC – are we moving to convergence?
- Liquidity in exchange traded markets
- Development of CCP
- Open interest in non-commercial players in the market
- Where do we go from here?
Fraser Cowie, Executive Director, Global Business Development, NYSE Liffe
1040 Networking coffee break
1110 Gold - will the price continue to rise?
黄金：金价会继续一路上扬吗？
- Gold as reserve currency
- Demand and supply dynamic for gold
- Effect of currency fluctuations on gold price
- Where is the ceiling for gold prices?
Albert Cheng, Managing Director – Far East, World Gold Council
1140 Finding the proxy for iron ore
选择和铁矿石市场的相关价值
- Composite of Iron ore index
- How closely correlated are reference price and spot price?
- Effect of fright rate on index volatility
Cameron Hunt, Director, Metal Bulletin Iron Ore Index
1210 Panel discussion: Outlook for Greater China financial futures and commodities exchange traded derivatives
小组讨论：对中国场内交易所和商品市场的未来展望
- Current state of financial futures markets
- What are the major challenges for developing a liquid and transparent exchange traded platform?
- What are the latest product developments in exchange traded markets?
- Development of the investor base – where is the demand coming from?
- OTC vs. exchanged traded derivatives - which markets should be developed first?
- Prospects for the future of exchange – traded derivatives
Moderator: Cecelia Zhong, Head of Greater China Business Development, NYSE Liffe
Albert Helmig, President, Hong Kong Mercantile Exchange
Dr. HO Foo-shiung Chairman, Yuanta Futures
WANG Yufei, Director of Strategic Planning, Dalian Commodities Exchange
Jeff Huang, Assistant Chairman, Tianjin Climate Exchange
1300 Chairman’s closing remarks followed by lunch
大会主持致闭幕词及大会结束