Conference Programme

    • 08:00 - 20:00

      Registration

      All participants

      Venue: Hilton Malta Hotel

      Registration will take place in the lobby of the hotel

      Dress code for all event: Business casual

    • 09:00 - 12:00

      WFE Working Committee Meeting

      WFE Members only



    • 12:00 - 14:00

      Lunch

      WFE Working Committee Members and Board of Directors only
    • 14:00 - 17:30

      WFE Board of Directors Meeting

      WFE Board Members only

      Bus transfers from the Hilton Malta Hotel to the Malta Stock Exchange will be provided.

    • 17:30 - 19:15

      Walking Tour of Valleta

      Description of the tour available in the Social Programme

      Group meets at Malta Stock Exchange at 17:15

    • 19:30 - 21:30

      Welcome Reception

      All participants

      Bus transfers from the Malta Stock Exchange to the Hilton Hotel will be provided after the Welcome Reception.

    • 08:00 - 16:00

      Registration

      All Participants

      Venue: Lobby of Hilton Malta Hotel

    • 08:00 - 10:30

      WFE General Assembly

      WFE Members only
    • 10:30 - 10:45

      Opening Ceremony of the Annual Meeting and Welcome Remarks

      All Participants
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Joseph
        Joseph Portelli Executive Chairman Malta Stock Exchange
      • Joseph Portelli

        Executive Chairman Malta Stock Exchange

        Joseph has over 35 years of experience employed in various capacities within the financial industry in the U.S and in Malta. He has vast experience as a portfolio manager, currency, and commodity trader, and has worked with Bank of America, Nomura Securities, Goldman Sachs, Millburn Ridgefield, and Liongate Capital Management. He was also chief investment officer and managing director of FMG Funds, an emerging markets specialist.

        He is currently Executive Chairman of the Malta Stock Exchange and sits on its Audit Committee. Between April 2013 and April 2015 he sat on its board and chaired its Risk Management Committee. In 2015 he was named chair of the Malta Stock Exchange PLC and has founded and chairs various MSE-owned subsidiaries such as the Malta Stock Exchange Institute, MSX a payment provider, and MDX a digital asset exchange. He also offers risk management consulting, and sits on the boards and investment committees of numerous asset management and financial service companies domiciled in Malta. Joseph also sits on the Malta Financial Services Advisory Council a board, constituted by the Finance Ministry of Malta. 

        Joseph founded the Institute of Investment Analysis and was also a visiting lecturer at the University of Malta, and has taught courses at the Central Bank of Malta, Malta Institute of Accounting, and other institutions. He was a regular contributor to the Times of Malta, writing about investor education. Joseph graduated with a BA from Baruch College, City University of New York.

    • 10:45 - 11:00

      Session 1 - Keynote Speech: Jean-Paul Servais, Vice-Chairman, IOSCO and Chairman, Financial Services and Markets Authority

      Speaker
      • Jean-Paul
        Jean-Paul Servais Vice-Chairman, IOSCO and Chairman, Financial Services and Markets Authority Belgian Financial Services and Markets Authority (FSMA)
      • Jean-Paul Servais

        Vice-Chairman, IOSCO and Chairman, Financial Services and Markets Authority Belgian Financial Services and Markets Authority (FSMA)

        Jean-Paul Servais is the Chairman of the Belgian Financial Services and Markets Authority (FSMA). He is also Vice chairman of IOSCO Board, as well as Chairman of the IOSCO European Regional Committee, the IOSCO SPACS Network, the Audit Committee of IOSCO and the IFRS Foundation Monitoring Board. He is also co-Chair of the Monitoring Group and a board member of several international supervisory bodies for the financial sector: IOSCO, ESMA and ESRB. He teaches at ULB where he is also the deputy director of its special Master in Tax Law and Professor of LL.M. « International Business Law ». He is author or co-author of numerous contribution in particular in areas of relevance to the FSMA's activities and the academic and scientific activities undertaken at the ULB.

    • 11:00 - 12:00

      Session 2 - Resilience & Recovery: The Role of Market Infrastructure through the pandemic and beyond

      As the pandemic struck, exchanges and CCPs moved swiftly and smoothly to operate remotely, running markets, both big and small, virtually. What were the greatest challenges and how did the industry conquer them? What lessons have we learned from the last few years? How has that changed us an industry? What were, and are, the greatest opportunities? What hasn’t changed for the industry? As operational resilience remains a focus for all, how can market infrastructures help the sell-side and others in the ecosystem? Which of the pandemic themes, like ESG, the rise of the retail investor and the growth of tokenized securities, will endure? What are some of the new public markets, like carbon markets, that will emerge in coming years? What policy levers do we need to nurture & grow public markets given incentive structures currently favour private or OTC markets to the detriment of transparency? What does the future look like?

      Speakers
      • Edward T.
        Edward T. Tilly Chairman and Chief Executive Officer, Cboe Global Markets, and Chairman The World Federation of Exchanges
      • Edward T. Tilly

        Chairman and Chief Executive Officer, Cboe Global Markets, and Chairman The World Federation of Exchanges

        Edward Tilly is Chairman and Chief Executive Officer of Cboe Global Markets, Inc. (Cboe), one of the world’s largest exchange holding companies. Mr. Tilly, who has been CEO since 2013, was elected to serve in the additional role of Chairman of the Board in 2017 as part of the Bats Global Markets acquisition, and later added President to his title in January 2019.

        Under Mr. Tilly’s leadership, Cboe has expanded its role as a market leader in providing cutting-edge trading and investment solutions to investors around the world. Mr. Tilly led the $3.2 billion acquisition of Bats Global Markets, which was completed on February 28, 2017. As a result, Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the Cboe Volatility Index (VIX Index), the world’s barometer for equity market volatility.

        Mr. Tilly has expanded global access to Cboe's flagship products, S&P 500 Index (SPX) options and Cboe Volatility Index (VIX) options and futures, through the launch of global trading hours. He secured exclusive licensing agreements with major global index providers FTSE Russell and MSCI, and launched products that added a significant international dimension to Cboe's index option franchise.

        He also forged a number of strategic alliances in an effort to further diversify the company's product and business lines. Through equity investments in CurveGlobal, Eris Exchange, American Financial Exchange and Vest Financial, Cboe is tapping into new market segments and reaching new customers. Mr. Tilly also led the acquisition of Livevol, Inc., a leading provider of options technology and trading analytics, to enhance Cboe's market data services offering.

        Mr. Tilly has been an integral part of the Cboe community, as both a trader and exchange executive, for 30 years. Prior to being named CEO, Mr. Tilly was Cboe President and Chief Operating Officer from 2011 to 2013, served as Cboe Executive Vice Chairman from 2006 to 2011 and held the highest member-elected position at the Exchange as Cboe’s Member Vice Chairman from 2004 to 2006.

        Mr. Tilly came to Cboe as a trading floor clerk in 1987 and became a floor trader and Cboe member in 1989. He traded as both a market-maker and a designated primary market-maker (DPM) until joining Cboe’s executive management team in 2006. As a Cboe member, Mr. Tilly served on the Cboe Board of Directors from 1998 to 2000 and again from 2003 to 2006. He chaired the Cboe Floor Directors Committee from 2004 to 2006 and served on the Executive, Compensation and Governance Committees of the Board.

        Mr. Tilly currently serves on the board of directors for Cboe Global Markets, Cboe Futures Exchange (CFE), Northwestern Medical Group, World Business Chicago, Working in the Schools, and the World Federation of Exchanges (WFE), where he serves as Vice Chairman of the Board. Mr. Tilly is a member of the Economic Club of Chicago and the Chicago Club.

        He received a B.A. degree in Economics from Northwestern University.

      • Laura M.
        Laura M. Cha Chairman Hong Kong Exchanges & Clearing
      • Laura M. Cha

        Chairman Hong Kong Exchanges & Clearing

        Mrs Cha is Chairman of Hong Kong Exchanges and Clearing Ltd and a member of the Executive Council of the Government of Hong Kong.

         Mrs Cha is also a Non-Executive Director of Unilever plc; a Senior International Advisor of Foundation Assets Management Sweden AB and a member of Sotheby’s International Advisory Board. In addition, she is also Vice Chairman of the International Advisory Council of the China Securities Regulatory Commission, and a Director of the World Federation of Exchanges. 

        Mrs Cha became the first, and to-date, the only person outside Mainland China to join the Central Government of the People’s Republic of China at the vice-ministerial rank when she was appointed as Vice Chairman of the China Securities Regulatory Commission in January 2001. She served in that position until September 2004. Mrs Cha worked for the Securities and Futures Commission in Hong Kong from 1991 to 2000, becoming its Deputy Chairman in 1998. She was also Chairman of The Financial Services Development Council of Hong Kong from January 2013 to July 2018.

        She was awarded a Silver Bauhinia Star in 2001, a Gold Bauhinia Star in 2009 and the Grand Bauhinia Medal in 2017 by the Hong Kong Government for her public service.

    • 12:00 - 12:45

      Session 3 - Fireside Chat: Professor Edward Scicluna, Governor, Central Bank of Malta

      Speaker
      • Prof. Edward
        Prof. Edward Scicluna Governor Central Bank of Malta
      • Prof. Edward Scicluna

        Governor Central Bank of Malta

        Edward Scicluna is Governor of the Central Bank of Malta and Deputy Chairman of the Malta Financial Services Authority, after having served as Malta’s Minister for Finance (2013-2020).  He also served as an MEP and Vice-Charmain of ECON (2008-2013). His previous appointments included that of Professor and Head of the Department of Economics at the University of Malta (UoM), and Chairman of the Malta Council for Economic and Social Development.  Edward graduated from the University of Oxford with a Diploma with distinction in politics and economics; from the UoM with a First Class Honours BA degree. He  read for his  Masters and Doctorate in Economics at the University of Toronto.


    • 12:45 - 13:45

      Lunch

      All Participants
    • 13:45 - 14:00

      Session 4 - Keynote Speech: Marie E. Dzanis, Head of Asset Management EMEA and Chief Executive Officer, Northern Trust Asset Management

      Speaker
      • Marie E.
        Marie E. Dzanis Chief Executive Officer, Asset Management, EMEA Northern Trust Asset Management
      • Marie E. Dzanis

        Chief Executive Officer, Asset Management, EMEA Northern Trust Asset Management

        Marie Dzanis, CIMA®, is head of asset management in EMEA, responsible for the end-to-end asset management business in the region including governance, strategy, operations, portfolio management, product business development and talent of Northern Trust Asset Management.

        Marie is the CEO of Northern Trust Global Investment, LTD (U.K.) and sits on the boards of Northern Trust Global Funds, PLC; Northern Trust Fund Managers (Ireland) Limited, Northern Trust Investment Funds and FlexShares ETF ICAV Funds. Marie serves on several executive, business and risk committees globally for Northern Trust Asset Management including the Northern Trust Asset Management Executive Committee and EMEA cross-business.

        Previous to joining Northern Trust in 2011, Marie held executive positions at iShares/Blackrock, JPMorgan Asset Management and Smith Barney. Marie’s comprehensive business acumen highlights driving diverse and profitable growth in businesses. Her multifaceted career began as a financial advisor and subsequently includes experience in securities lending, trading, product development, sales management and profit-and-loss management.

        As a recognized industry leader and media contributor, Marie has been celebrated as among the "Women to Watch" from Investment News (2017) and “Top Women in Asset Management” by Money Management Executive (2015). Marie sits on the of the board of directors of the Investment Association in the U.K., along with the Investment Association’s financial, audit and risk committee. She is a member of the C200 most successful women in business, along with Irish Funds and Women in ETFs.

        Marie has a bacherlor’s degree in political theory from the Catholic University of America in Washington, D.C. She is a Certified Investment Management Analyst®. Additionally, Marie is on the women’s board of the University of Chicago Cancer Foundation, Advisory Board for BlinkNow Charitable Foundation. She also is a producer for the Maggie Doyne documentary called “Love Letters to my Children.”

    • 14:00 - 15:00

      Session 5 - L is for Liquidity

      Liquidity is the fundamental building block of healthy, thriving markets. What brings liquidity to an exchange? How can exchanges design markets to maximise liquidity? Does venue competition lead to liquidity fragmentation? What does the rise of the retail investor mean for liquidity in markets?  What does the crypto market teach us about liquidity? Can there ever be too much liquidity? How can emerging markets build liquidity effectively and how does that differ from large, developed markets?


      Chair
      • Oscar Onyema

        Group CEO Nigerian Exchange Group
      Speakers
      • Paul
        Paul Jiganti Managing Director of Business Development IMC
      • Paul Jiganti

        Managing Director of Business Development IMC

        Paul Jiganti has been at IMC as Managing Director of Business Development in since 2015. He is responsible for facilitating IMC’s business expansion by building new partnerships and expanding into new areas. Mr. Jiganti began his career as an independent market maker on the Cboe floor before spending 16 years at Susquehanna Investment Group in many roles eventually as Associate Director in charge of the Chicago office. He spent a year as a consultant to Nasdaq before joining TD Ameritrade where he was Managing Director in charge of market structure and retail client advocacy from 2012-2015.

        Mr. Jiganti previously served on the Board of Directors of both the Cboe and Direct Edge, Nasdaq Quality of Markets Committee, FINRA’s Limit up Limit down Advisory Committee, as well as Co-Chaired Cboe’s PAC. Until recently he chaired the SIFMA Listed Options Committee and today he chairs the Listed Options Market Structure Working Group, serves on FIA PTG executive committee, Miami International Securities Exchange, and MIAX Emerald Securities Exchange Board of Directors, as well as Cboe Advisory Committee. Mr. Jiganti has an Economics degree from University of San Diego and is series 7 and 24 licensed.


      • Marie E.
        Marie E. Dzanis Chief Executive Officer, Asset Management, EMEA Northern Trust Asset Management
      • Marie E. Dzanis

        Chief Executive Officer, Asset Management, EMEA Northern Trust Asset Management

        Marie Dzanis, CIMA®, is head of asset management in EMEA, responsible for the end-to-end asset management business in the region including governance, strategy, operations, portfolio management, product business development and talent of Northern Trust Asset Management.

        Marie is the CEO of Northern Trust Global Investment, LTD (U.K.) and sits on the boards of Northern Trust Global Funds, PLC; Northern Trust Fund Managers (Ireland) Limited, Northern Trust Investment Funds and FlexShares ETF ICAV Funds. Marie serves on several executive, business and risk committees globally for Northern Trust Asset Management including the Northern Trust Asset Management Executive Committee and EMEA cross-business.

        Previous to joining Northern Trust in 2011, Marie held executive positions at iShares/Blackrock, JPMorgan Asset Management and Smith Barney. Marie’s comprehensive business acumen highlights driving diverse and profitable growth in businesses. Her multifaceted career began as a financial advisor and subsequently includes experience in securities lending, trading, product development, sales management and profit-and-loss management.

        As a recognized industry leader and media contributor, Marie has been celebrated as among the "Women to Watch" from Investment News (2017) and “Top Women in Asset Management” by Money Management Executive (2015). Marie sits on the of the board of directors of the Investment Association in the U.K., along with the Investment Association’s financial, audit and risk committee. She is a member of the C200 most successful women in business, along with Irish Funds and Women in ETFs.

        Marie has a bacherlor’s degree in political theory from the Catholic University of America in Washington, D.C. She is a Certified Investment Management Analyst®. Additionally, Marie is on the women’s board of the University of Chicago Cancer Foundation, Advisory Board for BlinkNow Charitable Foundation. She also is a producer for the Maggie Doyne documentary called “Love Letters to my Children.”

      • Richard Balarkas

        Chairman Saxo Capital Markets UK
    • 15:00 - 16:00

      Session 6 - Squaring the circle - global markets and fragmenting regulation

      Even as the last three years demonstrated how interconnected the world is, regulation continues to fragment markets and impede their ability to function effectively. Which issues are most damaging? Which are avoidable? How can exchanges and CCPs help solve some of these issues? How can the ecosystem work together to resolve some of the impediments? As sanctions are likely to be part of life for years to come, how can market infrastructures work with regulators, investors and other stakeholders to find a solution to common problems? What is the importance of high-quality market data in achieving better outcomes for investors? Will regulatory fragmentation affect developed and emerging markets differently? Will it affect large, mid-size and  small markets differently? What are the regulatory themes that will shape markets in years to come?

      Speakers
      • Paul A.
        Paul A. Leder Of Counsel Miller & Chevalier Chartered
      • Paul A. Leder

        Of Counsel Miller & Chevalier Chartered

        Paul Leder, a former Director of the SEC’s Office of International Affairs (2014-2018), specializes in securities enforcement, compliance, and complex litigation, with a particular focus on cross-border issues.  He helps clients navigate the challenge of conflicting regulatory regimes, as well as simultaneous investigations by criminal and regulatory authorities, both from the U.S. and other jurisdictions.  

        Mr. Leder has advised globally active firms on cross-border issues, including on developing engagement strategies with foreign regulators and international standard setting bodies.  He has led internal investigations on behalf of boards of directors and management involving the Foreign Corrupt Practices Act (FCPA), accounting fraud, and insider trading.  Mr. Leder also advises clients on developing and evaluating compliance programs on a range of issues, including insider trading and anti-corruption.

      • Edward
        Edward Knight Vice Chairman Nasdaq
      • Edward Knight

        Vice Chairman Nasdaq

        As Vice Chairman, Edward Knight manages global government relations and serves as a senior advisor on public policy and litigation.

        During his tenure as Nasdaq’s General Counsel from 2001 to 2019, Ed championed many causes for investors and public companies: proxy reform; corporate governance modernization, including the JOBS ACT passage in 2012; regulatory reform; immigration reform; and enhancing the self-regulatory organization model. He has worked tirelessly to ensure Nasdaq’s U.S. equity market maintains its position as the premier global marketplace for capital formation.

        Ed currently serves as a Trustee of the University of Texas Law School Foundation, a member of the Advisory Board of Columbia University’s School of International and Public Affairs, and a member of the District of Columbia, Texas and Supreme Court Bars. He is a life member of the Council on Foreign Relations and sits on its Committee on Corporate Affairs. Ed is Vice Chairman of the Board of the U.S. Chamber of Commerce and Vice Chairman of the U.S. Chamber’s U.S.-India Business Council, and also sits on TechNet's Executive Council. He is a member of the Nasdaq Dubai Board and the Board of the World Federation of Exchanges. He is based in Nasdaq’s Washington, D.C., office.

        Before serving as FINRA’s General Counsel from 1999-2001 and then NASDAQ’s General Counsel, Ed served as General Counsel of the U.S. Department of the Treasury from September 1994 to June 1999 — the longest tenure since the position was created in 1934. Upon his departure, he received the Alexander Hamilton Award, the Department's highest honor. He also received the Honor Award from the Secret Service. Before being named Treasury General Counsel, Ed served as Executive Secretary and Senior Advisor to Secretary of the Treasury Lloyd Bentsen. He also served as a member of the Obama Transition Team at the U.S. Treasury Department in 2008-2009.

        Prior, he was a partner with the law firm of Akin, Gump, Strauss, Hauer and Feld in Washington, D.C. A Texas native, Ed received his Bachelor of Arts, with honors, in Latin American Studies from the University of Texas at Austin and his Juris Doctorate from the University of Texas School of Law.

      • Joseph
        Joseph Gavin Chief Executive Officer Malta Financial Services Authority
      • Joseph Gavin

        Chief Executive Officer Malta Financial Services Authority

        Joseph Gavin is the Chief Executive Officer of the Authority responsible for chairing the MFSA’s Executive Committee and sits on the Board of Governors of the Authority.

        In his role as Chief Executive Officer of the MFSA, Joseph shall be responsible for the overall management and performance of the Authority, and the implementation of reforms and consolidation in the financial services sector.

        Critically, Joseph acted as General Counsel within the Central Bank of Ireland between 2009 and 2015, at a time in which the Irish regulator was undergoing significant policy and structural change, and he was instrumental in guiding the Irish watchdog during a sensitive time, post-recession. Joseph was more recently employed as a Partner and Head of Financial Services at an Irish law firm, providing specialist input in areas relating to regulation and enforcement in financial services.

        Joseph has more than 40 years of experience as a lawyer in Financial Services generally.

      • Nicoletta
        Nicoletta Giusto Independent Member of the CCP Supervisory Committee and Director for Central Counterparties (CCPs European Securities and Markets Authority (ESMA)
      • Nicoletta Giusto

        Independent Member of the CCP Supervisory Committee and Director for Central Counterparties (CCPs European Securities and Markets Authority (ESMA)

        Nicoletta Giusto is an Independent Member of the CCP Supervisory Committee and Director for Central Counterparties (CCPs) at the European Securities and Markets Authority (ESMA)

        In 1987 she joined Consob to work at the General Secretariat to the Board and subsequently at the International Relations Office. In 1998 she joined the European Commission where she was employed at the Securities Markets Unit of DG Internal Market and Financial Services until 2001. In 2002 and 2003 she was Pre-Accession Advisor at the Romanian Securities Commission (EU funded Phare Project). Afterwards, she returned to Consob and was appointed Head of the International Relations Office in 2006. 

        She has been involved in several international working groups and activities, including peer reviews at IOSCO and FSB level. Even before joining ESMA she followed closely and took part in various ESMA activities including by chairing several Standing Committees such as the Investment Management Standing Committee, the Post-Trading Standing Committee and the Market Integrity Standing Committee.  

        Nicoletta Giusto graduated in Law at the University of Genoa (Magna cum Laude) and achieved a Master in Law & Economics of the EU at the University of Rome La Sapienza.

    • 16:00 - 17:15

      WFE Board of Directors Meeting

      WFE Board Members only
    • 18:30 - 22:00

      WFE Gala Dinner

      All Participants

      Bus transfers from and to the Hilton Malta Hotel will be provided.

    • 08:30 - 16:00

      Registration

      All Participants

      Venue: Hilton Malta Hotel

    • 09:00 - 10:00

      Session 7 - Innovation in Technology

      Technology is the lifeblood of modern markets. As the industry seeks to serve investors and stakeholders better, what are the trends shaping modern market infrastructure? As public markets move to the cloud, what comes next? What is the role of DLT? How can we guard against cyber threats as they remain in constant evolution? What’s the next big technological innovation?

    • 10:00 - 11:00

      Session 8 - The Crypto Market: so near and yet so far

      Amid the hype, the scandal, the fear and the greed, what does the rise of the crypto universe tell us about financial markets? What are potential structures for an exchange that wants to operate a crypto business? How are the true exchanges, regulated as such, innovating to extend into this asset class? What would be an optimal market design for a regulated crypto exchange? What can exchanges learn from the phenomena? How would appropriate regulation and investor protection look like for this market? How can we as an industry balance innovation with our role as the trusted guardians of financial markets to ensure we bring crypto investors onto exchange?

      Speakers
      • Dr Christopher P.
        Dr Christopher P. Buttigieg Chair of the Regulatory Committee and Member of the Authority’s Executive Committee and Risk Committee Malta Financial Services Authority (MFSA)
      • Dr Christopher P. Buttigieg

        Chair of the Regulatory Committee and Member of the Authority’s Executive Committee and Risk Committee Malta Financial Services Authority (MFSA)

        Dr. Buttigieg has twenty-two years of experience in financial regulation and supervision. 

        He is currently the Chief Officer – Supervision, responsible for the Supervision Directorate, the Chair of the Regulatory Committee and a member of the Authority’s Executive Committee and Risk Committee.  He is responsible for the co-ordination and implementation of the supervisory and regulatory strategy across all the sectors under the MFSA’s remit. 

        Dr Buttigieg is a member of the European Securities and Markets Authority’s (ESMA) Board of Supervisors and the Chair of the ESMA Data Standing Committee. 

        Throughout his career at the MFSA Dr Buttigieg was responsible for managing various functions and teams. He was also responsible for the implementation of several European Directives and Regulations and the development of new regulatory frameworks at national level. 

        Dr Buttigieg has a commerce degree (B.Com 1998), an accountancy degree (B.Accty. Hons. 2000) and a financial services law degree (M.A. Fin. Ser. 2003) from the University of Malta, as well as a European Union Law degree (M.A. EU Law and Soc 2005) and a doctoral degree in law (Ph.D 2014) from the University of Sussex (UK). His Doctoral thesis deals with the governance of EU securities regulation and supervision. Dr Buttigieg is a senior lecturer in the Banking and Finance Department of the University of Malta. He is also a member of the Board of Trustees of the Academy of European Law (ERA) in Trier, Germany, and a visiting lecturer at the same institution.

        He is an active researcher and has published various papers in reputable journals, including the Columbia Journal of European Law, the ERA Forum, the Journal of Financial Regulation and Compliance, the Journal of Business Law and the Law and Financial Markets Review. His latest publication deals with the institutional architecture for financial supervision of a small jurisdiction and proposes reforms with a view of achieving more efficient and cost effective financial supervision.

      • John
        John McPartland Senior Advisor Hidden Road Partners LP
      • John McPartland

        Senior Advisor Hidden Road Partners LP

        John McPartland is Senior Advisor at Hidden Road Partners, a quantitative investment firm.  He spent the entirety of his professional career in the derivatives industry in the roles of commercial banker, broker, FCM executive, exchange member, CCP executive and until his recent retirement, Senior Policy Advisor in the Financial Markets Group of the Federal Reserve Bank of Chicago.  In that capacity, he participated in influencing public policy germane to high frequency trading, market structure, CCP default waterfall components, and market concentration issues.  He is a graduate from the University of Minnesota and a US Air Force veteran.


    • 11:00 - 12:00

      Session 9 - Indexing the Future

      ‘’Successful investing is anticipating the anticipations of others,’’ said John Maynard Keynes. The index business is core to market infrastructure and to the innovation and services that exchanges offer. What do trends here have to show us about the future? How did the index industry deal with the stress test that was the pandemic? Does the market structure work? How has the surge in demand for ESG products changed the industry? Is the appetite for ESG indexes insatiable? What is the future for fixed income indexes?  What do exchanges need from index providers and vice versa?

      Speaker
      • Jason
        Jason Warr Managing Director and Global Co-Head of ETF Markets BlackRock
      • Jason Warr

        Managing Director and Global Co-Head of ETF Markets BlackRock

        Jason is a Managing Director and Global Co-Head of ETF Markets. The ETF Markets encompasses the Global Markets and Product Engineering teams within EII Markets and Investments ("Engine") of BlackRock's ETF and Index Investing (EII) organization. The EII Markets and Investments teams drive investment integrity and market quality in Blackrock's ETF and index portfolios. Global Markets and Product Engineering together strive to safeguard ETF trading, evolve the ETF ecosystem and develop best-in-class products with enduring integrity that promote clients' financial well-being. Prior to joining Blackrock in September 2016, Jason spent the previous 15 years at Morgan Stanley in a variety of Delta One trading roles including Cash, Swaps and Futures. Most recently Jason was Head of European ETF Trading at Morgan Stanley and responsible for managing the revenue, technology and client relationships of the European franchise.

    • 12:00 - 13:30

      Lunch

      All Participants
    • 13:30 - 14:15

      Session 10 - Fireside Chat: Gabriela Figueiredo Dias, Chair, International Ethics Standards Board for Accountants (IESBA)

      Speaker
      • Gabriela
        Gabriela Figueiredo Dias Chair International Ethics Standards Board for Accountants (IESBA)
      • Gabriela Figueiredo Dias

        Chair International Ethics Standards Board for Accountants (IESBA)

        Ms. Gabriela Figueiredo Dias took office as Chair of the International Ethics Standards Board for Accountants on January 1, 2022. She was appointed for an initial three-year term.

        Ms. Figueiredo Dias has extensive experience in international standard setting, legal and regulatory structure and governance, and academia. Previously, she was the Executive Chair (2016-2021) and Deputy Chair (2015-2016) of the Portuguese Securities Commission – CMVM, the authority responsible for regulating and supervising the markets of financial instruments, covering listed companies, asset managers, auditors, and investment firms.  There, she managed and provided strategic direction to the CMVM and represented the organization in regional and global financial forums.  Ms. Figueiredo Dias joined the CMVM in 2007 as Senior Counsel on international affairs and regulatory policy and during 2008-2015 she served in several senior leadership roles, including Head of the International and Regulatory Policy Department and of the Markets, Issuers, and Financial Information Department, and Advisor to the Chair.

        Ms. Figueiredo Dias served as a Board Member of the International Organization of Securities Commissions (IOSCO), Board member of the European Securities and Markets Authority (ESMA), Chair of the ESMA Investment Management Standing Committee, member of ESMA’s Management Board, and a member of ESMA’s Mediation Panel. She was also a member of the Portuguese National Council of Financial Regulators.  In addition, Ms. Figueiredo Dias served as Vice-Chair of the Organization for Economic Co-operation and Development (OECD) Corporate Governance Committee. She was a member of IOSCO’s Sustainability Task Force (2020-2021) and an observer at the Monitoring Board of the IFRS Foundation. Ms. Figueiredo Dias is a founding member of the Portuguese Corporate Governance Institute and a member of the European Corporate Governance Institute. Since February 2021, Ms. Figueiredo Dias is also the President of the General Council of the University of Coimbra in Portugal.

        Over her 30+ years career, Ms. Figueiredo Dias published numerous papers, articles, and books, as author or co-author, in the field of corporate governance, auditors, pension funds, corporate boards, and sustainability. More recently, during her term as CMVM Chair, Ms. Figueiredo Dias has focused on Environmental, Social, and Governance (ESG) matters and integrity of professionals in financial information and management. With such a focus, Ms. Figueiredo Dias has led a progressive mindset transformation amidst the Portuguese market stakeholders towards a more sustainable and ethical financial ecosystem.

        Ms. Figueiredo Dias holds a bachelor’s degree and a master’s degree in law from the Coimbra University Law School. She did extensive academic research in several Universities in the UK and US and holds a certificate in Leadership and Communications from Nova University (Lisbon).

    • 14:15 - 15:15

      Session 11 - What is Green?

      As ESG continues to dominate the policy agenda, the definition of ‘green’ remains a significant challenge. What is the role of the exchange and our industry in this debate? How do we define green across the spectrum of financial market innovation? How do we reduce green washing? With disclosures and ratings coming increasingly into focus, the need for an accepted framework is pressing. Yet debate continues around the extent of disclosures and how they should be verified. How can we verify better? The panel will assess where the financial services industry is on this journey and how further progress can be made.


      Chair
      • Gabriela
        Gabriela Figueiredo Dias Chair International Ethics Standards Board for Accountants (IESBA)
      • Gabriela Figueiredo Dias

        Chair International Ethics Standards Board for Accountants (IESBA)

        Ms. Gabriela Figueiredo Dias took office as Chair of the International Ethics Standards Board for Accountants on January 1, 2022. She was appointed for an initial three-year term.

        Ms. Figueiredo Dias has extensive experience in international standard setting, legal and regulatory structure and governance, and academia. Previously, she was the Executive Chair (2016-2021) and Deputy Chair (2015-2016) of the Portuguese Securities Commission – CMVM, the authority responsible for regulating and supervising the markets of financial instruments, covering listed companies, asset managers, auditors, and investment firms.  There, she managed and provided strategic direction to the CMVM and represented the organization in regional and global financial forums.  Ms. Figueiredo Dias joined the CMVM in 2007 as Senior Counsel on international affairs and regulatory policy and during 2008-2015 she served in several senior leadership roles, including Head of the International and Regulatory Policy Department and of the Markets, Issuers, and Financial Information Department, and Advisor to the Chair.

        Ms. Figueiredo Dias served as a Board Member of the International Organization of Securities Commissions (IOSCO), Board member of the European Securities and Markets Authority (ESMA), Chair of the ESMA Investment Management Standing Committee, member of ESMA’s Management Board, and a member of ESMA’s Mediation Panel. She was also a member of the Portuguese National Council of Financial Regulators.  In addition, Ms. Figueiredo Dias served as Vice-Chair of the Organization for Economic Co-operation and Development (OECD) Corporate Governance Committee. She was a member of IOSCO’s Sustainability Task Force (2020-2021) and an observer at the Monitoring Board of the IFRS Foundation. Ms. Figueiredo Dias is a founding member of the Portuguese Corporate Governance Institute and a member of the European Corporate Governance Institute. Since February 2021, Ms. Figueiredo Dias is also the President of the General Council of the University of Coimbra in Portugal.

        Over her 30+ years career, Ms. Figueiredo Dias published numerous papers, articles, and books, as author or co-author, in the field of corporate governance, auditors, pension funds, corporate boards, and sustainability. More recently, during her term as CMVM Chair, Ms. Figueiredo Dias has focused on Environmental, Social, and Governance (ESG) matters and integrity of professionals in financial information and management. With such a focus, Ms. Figueiredo Dias has led a progressive mindset transformation amidst the Portuguese market stakeholders towards a more sustainable and ethical financial ecosystem.

        Ms. Figueiredo Dias holds a bachelor’s degree and a master’s degree in law from the Coimbra University Law School. She did extensive academic research in several Universities in the UK and US and holds a certificate in Leadership and Communications from Nova University (Lisbon).

    • 15:15 - 16:15

      Session 12 - Building the Market Infrastructure of the Future - Into the Next Decade

      Technological innovation has forced regulators and industry to re-examine some fundamental questions about how market infrastructure operates and how it can evolve to meet new demands. New trading platforms offering cheap execution and easy access, with or without a central node; new tokenized stocks that can be traded 24/7; or disintermediated clearing models promising democratized access to clearing, are just three examples of new market paradigms often presented in a narrative that mixes technological novelty with libertarian aims, but which tends to ignore the considerable risks involved, the lack of standards, or the absence of investor protections. How should exchanges respond to these changes so they can remain at the front of market innovation while preserving trust in the system?

      Speaker
      • Pinar
        Pinar Emirdag Global Head of Digital Client Services for Markets Operations JP Morgan
      • Pinar Emirdag

        Global Head of Digital Client Services for Markets Operations JP Morgan

        Pinar Emirdag joined JP Morgan as global head of digital client services for markets operations in October 2019. She oversees the development of digital products and solutions as part of JP Morgan’s plans to overhaul operational experiences for clients. 

        Emirdag joined State Street in 2017 focusing on the custodian bank’s efforts with digital assets, digital capital markets, digital custody and the Utility Settlement Coin initiative, now known as Fnality.

        Pinar Emirdag holds doctorate and master’s degrees in physics and a master’s degree in electrical engineering from Brown University. Pinar’s research field was development of new numerical techniques in theoretical particle physics.


    • 16:15 - 16:30

      Closing Remarks and thanks to the host

      All Participants

      Venue: Hilton Malta Hotel

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Joseph
        Joseph Portelli Executive Chairman Malta Stock Exchange
      • Joseph Portelli

        Executive Chairman Malta Stock Exchange

        Joseph has over 35 years of experience employed in various capacities within the financial industry in the U.S and in Malta. He has vast experience as a portfolio manager, currency, and commodity trader, and has worked with Bank of America, Nomura Securities, Goldman Sachs, Millburn Ridgefield, and Liongate Capital Management. He was also chief investment officer and managing director of FMG Funds, an emerging markets specialist.

        He is currently Executive Chairman of the Malta Stock Exchange and sits on its Audit Committee. Between April 2013 and April 2015 he sat on its board and chaired its Risk Management Committee. In 2015 he was named chair of the Malta Stock Exchange PLC and has founded and chairs various MSE-owned subsidiaries such as the Malta Stock Exchange Institute, MSX a payment provider, and MDX a digital asset exchange. He also offers risk management consulting, and sits on the boards and investment committees of numerous asset management and financial service companies domiciled in Malta. Joseph also sits on the Malta Financial Services Advisory Council a board, constituted by the Finance Ministry of Malta. 

        Joseph founded the Institute of Investment Analysis and was also a visiting lecturer at the University of Malta, and has taught courses at the Central Bank of Malta, Malta Institute of Accounting, and other institutions. He was a regular contributor to the Times of Malta, writing about investor education. Joseph graduated with a BA from Baruch College, City University of New York.

      • Greg Wojciechowski

        President & CEO Bermuda Stock Exchange
    • 18:00 - 20:30

      WFE Farewell Reception

      All Participants
    • 09:15 - 22:15

      Post-Assembly Tour

      Hotel check-out on Saturday 1st Oct at 12pm.

      Post-Assembly Tour (The assembly tour is at a separate fee to the conference fee. More information is provided here)