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3rd Annual London EMFX Trading Summit Thursday 3 December 2015, Level39, London

Emerging markets, emerging technology, emerging regulation, emerging asset class

Confirmed speakers so far:

- The Honorable Bart Chilton (former CFTC Commissioner) - Kay Swinburne, Member of the European Parliament - Alexey Orlov, Financial Markets Development Department Adviser, Central Bank of the

Russian Federation - Juwan Lee, Lead Founder & CEO, NexChange - Katie Martin, Deputy Head, fastFT, Financial Times - David Denison, Deputy CIO, Florin Court Capital (a part of Brummer & Partners) - Neil Staines, Head of Trading, ECU Group - David Clark, Chairman, The Wholesale Markets Brokers’ Association

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- Patrik Säfvenblad, Partner, Chief Investment Officer, Harmonic Capital Partners - Onur Sert, Head of Prop Trading, Gedik Yatırım Menkul Değerler - Marshall Bailey, President, ACI International – The Financial Markets Association - Jonathan Wheatley, Editor, EM Squared, Financial Times - Jon Vollemaere, CEO, R5FX - Sassan Danesh, Co-Chair OTC Products Committee, FIX Trading Community - Paul Chappell, CIO, C-View Limited - George Littlejohn, Senior Adviser, Chartered Institute for Securities & Investment - Robbie Boukhoufane, Global Head of FX Trading, Schroders Investment Management - Tim McCarthy, Co-Chief Investment Officer, VTB Capital Investment Management - Hendrik Klein, CEO, Da Vinci Invest - Roli Kushimo, Director Institutional & Commercial Banking, Union Bank - Philippe Bonnefoy, Founder, Eleuthera Capital; Chairman & Chief Investment Officer,

Newscape Capital Group

- Tim Bevan, CEO, BCS Prime Brokerage

- John Logan, CEO, TAS Market Profile

- Marc Millington-Buck, Head of International FX Business Development, Moscow Exchange - Nandini Sukumar, CEO, World Federation of Exchanges - Nicolette Kost De Sevres, Senior Policy Advisor, DLA Piper - Adam Skoczylas, Director, Emerging Markets Trading, Bank of America Merrill Lynch - Muammer Cakir, Head of Derivatives Market, Borsa Istanbul - Roger Balch, Director, Electronic Trading & Prime Services Sales, Otkritie - Lyubov Pronina, News Reporter, Bloomberg - Demetrios Efstathiou, Head of Trading Strategy, ICBC Standard - Sara Castelhano, EMEA Global Clearing – Treasury Services, JP Morgan

Draft programme:

08:00 Registration and breakfast in exhibition area

09:00 Welcome

Julie Nicolas, Global Head of Events, NexChange

09:05 Opening remarks from the Chairman Morning Chair: Jon Vollemaere, CEO, R5FX

09:10 Financial services just got social!

Juwan Lee, Lead Founder & CEO, NexChange

09:15 Keynote presentation: Tyrannosaurus Rex, FX & Complex Financial Effects The Honorable Bart Chilton (former CFTC Commissioner)

09:45 Panel discussion: A new EM market structure in the new regulatory world?

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Examining how much FX is currently traded electronically in emerging markets compared to G10 currencies and how quickly it will follow

How much is it specifically electronically traded and how much is it going to pick up over the next few years, in:

o Latin America

o Eastern Europe

o Russia

o India

o China

o Africa

Successfully finding trading opportunities in a world of diminishing liquidity o Via local banks?

o Analysing the differences between tier 1, 2 and 3 banks

o Determining how to engage in a safe way with local banks

o What banks can do to help the buy side in the evolving market

structure – Should they bother?

Non-bank market makers in EMFX – friend or foe?

Identifying the role of commercial banks in FX post Volcker rule (around risk)

When will clearing of NDF start?

How are current & future regulatory reforms and volatility changing the role of the buy side FX trader?

Assessing how OTC and on exchange can live together Moderator: Katie Martin, Deputy Head, fastFT, Financial Times Panel:

- David Denison, Deputy CIO, Florin Court Capital (a part of Brummer & Partners)

- Neil Staines, Head of Trading, ECU Group - Robbie Boukhoufane, Global Head of FX Trading, Schroders Investment

Management - Muammer Cakir, Head of Derivatives Market, Borsa Istanbul - Philippe Bonnefoy, Founder, Eleuthera Capital; Chairman & Chief

Investment Officer, Newscape Capital Group

10:30 Moscow Exchange panel discussion

Assessing the international reforms by Moscow Exchange to make FX markets open for everyone

What specifically has Moscow Exchange done to make markets accessible?

Understanding the role of the Central Bank of Russia in supporting Moscow Exchange

Moderator: Nandini Sukumar, CEO, World Federation of Exchanges

Panel:

- Alexey Orlov, Financial Markets Development Department Adviser, Central Bank of the Russian Federation

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- Marc Millington-Buck, Head of International FX Business Development, Moscow Exchange

- Adam Skoczylas, Director, Emerging Markets Trading, Bank of America Merrill Lynch

- Roger Balch, Director, Electronic Trading & Prime Services Sales, Otkritie - Sara Castelhano, EMEA Global Clearing – Treasury Services, JP Morgan

11:15 Networking morning break

11:45 Panel discussion: Eastern Europe & Russia

Exploring available tools and services to help the buy side trade more efficiently in CEE

How insulated is the Ruble compared to other emerging market currencies when it comes to fears around the end to quantitative easing by the Fed?

Examining Poland, Hungary and the Czech Republic – How easy it is to invest in these economies and are they capable to survive future shocks?

Moderator: Lyubov Pronina, News Reporter, Bloomberg Panel:

- Tim McCarthy, Co-Chief Investment Officer, VTB Capital Investment Management

- Paul Chappell, CIO, C-View Limited - Tim Bevan, CEO, BCS Prime Brokerage

- Marc Millington-Buck, Head of International FX Business Development, Moscow Exchange

- Muammer Cakir, Head of Derivatives Market, Borsa Istanbul

12:30 Panel: Electronic trading technology in EMFX – The call for increased efficiency, market transparency and liquidity

Evaluating how EMFX trading technology is going to evolve over the next few years

o What can you expect?

o Which EM would benefit from greater use of technology?

Assessing the very latest technology that help your trading desk to seek alpha in EM

Voice broking vs. electronic trading

How can you TCA in EMFX? o Pre-trade TCA

o Off-the-shelf vs. customised TCA

Moderator: Sassan Danesh, Co-Chair OTC Products Committee, FIX Trading Community Panel:

- Patrik Säfvenblad, Partner, Chief Investment Officer, Harmonic Capital Partners

- Onur Sert, Head of Prop Trading, Gedik Yatırım Menkul Değerler

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- Hendrik Klein, CEO, Da Vinci Invest - John Logan, CEO, TAS Market Profile

13:15 Presentation: African currencies – Spotlight on Nigeria

Roli Kushimo, Director Institutional & Commercial Banking, Union Bank

13:30 Networking lunch in the exhibition area

14:30 Afternoon Chair: David Clark, Chairman, The Wholesale Markets Brokers’ Association

14:30 Question time with regulators

The global scandal over the manipulation of benchmark interest rates: Was 14 years in prison too harsh a sentence?

Was the Cade Brasil letter to offshore banks a ‘me too’ move?

Is the PBoC more scare than the BoE and Fed?

Do fines prevent bad behaviour or just prevent innovation in markets? Moderator: Nicolette Kost De Sevres, Senior Policy Advisor, DLA Piper Panel:

- Marshall Bailey, President, ACI International – The Financial Markets Association

- Kay Swinburne, Member of the European Parliament - George Littlejohn, Senior Adviser, Chartered Institute for Securities &

Investment

15:10 China & Emerging Markets FX panel discussion Moderator: Jonathan Wheatley, Editor, EM Squared, Financial Times Panel:

- Alexey Orlov, Financial Markets Development Department Adviser, Central Bank of the Russian Federation

- Jon Vollemaere, CEO, R5FX - Marc Millington-Buck, Head of International FX Business Development,

Moscow Exchange - Demetrios Efstathiou, Head of Trading Strategy, ICBC Standard

15:50 Closing remarks Afternoon Chair: David Clark, Chairman, The Wholesale Markets Brokers’ Association

16:00 Russian Rouble networking party

17:30 End

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