The WFE's General Assembly & Annual Meeting

Conference Programme


Registration - Mon 01 Oct

  • 10:30 - 11:30:

    Press Conference & Opening Bell

    WFE Board of Directors & Press Only
    Venue: Athens Stock Exchange

    Outline of timetable as follows:

    10:00am - Journalists and guests begin to arrive; refreshments available

    10.30am - Opening bell

    10.35am – Everyone moves into the conference room

    10.45am – Press conference starts.

    Welcome Remarks

    Socrates Lazaridis, Chief Executive Officer, Athens Stock Exchange

    Nandini Sukumar, Chief Executive Officer, The World Federation of Exchanges


  • 14:00 - 21:00:

    Registration

    All participants
    Venue: Hallway Outside Ballroom

Day 1 - Tue 02 Oct

  • 08:00 - 12:00:

    Working Committee Meeting - Welcome by George Handjinicolaou, Chairman, Athens Stock Exchange

    WFE Members Only
    Venue: Golden Room

    • George
      George Handjinicolaou Chairman, Piraeus Bank Group Chairman, Athens Stock Exchange
  • 08:00 - 13:00:

    Registration

    All Participants
    Venue: Hallway Outside Ballroom
  • 12:00 - 13:00:

    Lunch: Keynote - Nikolaos V. Karamouzis, Chairman, Eurobank Ergasias SA, Chairman, Hellenic Bank Association (HBA)

    WFE Working Committee and Board of Directors Only
    Venue: Ballroom
  • 13:00 - 15:30:

    Tour - Optional

    WFE Working Committee (excluding Board of Directors)
    Venue: The Byzantine Museum

    *The group will be leaving from the hotel at 13:00, the museum is a short walk away. Please note that you will need your conference badge to join the tour.

  • 13:30 - 17:30:

    Board of Directors Meeting 1

    WFE Board of Directors Only
    Venue: Golden Room
  • 18:00 - 20:00:

    Welcome Reception

    All participants
    Venue: Ballroom

    Welcome remarks at 19:30


    Speakers
    • Socrates
      Socrates Lazaridis Chief Executive Officer Athens Stock Exchange
    • Nandini
      Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
    • Wu
      Wu Qing Non-Executive Chairman of the Shanghai Stock Exchange Vice Mayor of Shanghai and WFE Chairman

Day 2 - Wed 03 Oct

  • 07:00 - 10:30:

    Registration

    All Participants
    Venue: Hallway Outside Ballroom
  • 08:00 - 10:00:

    General Assembly Meeting

    WFE Members Only
    Venue: Golden Room
  • 10:20 - 10:45:

    Opening Ceremony of the Annual Meeting

    All Participants
    Venue: Ballroom

    Speakers
    • Socrates
      Socrates Lazaridis Chief Executive Officer Athens Stock Exchange
    • Nandini
      Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
    • Prof. Charalampos
      Prof. Charalampos Gotsis Chairman Hellenic Capital Market Commission (HCMC), Professor of Economics, University of Piraeus
  • 10:45 - 11:15:

    Session 1: Steven Maijoor, Chair, European Securities and Markets Authority

    Venue: Ballroom

    Speaker
    • Steven
      Steven Maijoor Chair European Securities and Markets Authority (ESMA)
  • 11:15 - 12:15:

    Session 2: The Renewal, Rebuilding & Rebirth of Economies – The Role of Exchanges & CCPs

    Venue: Ballroom

    What is the exchange & CCP role in bringing economies back to life? How do they best enable sustainable development? How can they serve their stakeholders better? What is the right regulatory framework for the best capital market ecosystem? What is Europe’s role on the global stage? As the world reflects on the decade of change that followed the worst financial crisis since the Great Depression - and seeks to pre-empt the next crisis - where should the industry be looking and what should they be doing?

    Moderator
    • Dr. Urs
      Dr. Urs Rüegsegger Chairman, SIX Swiss Exchange Vice Chairman of The World Federation of Exchanges

    Panellists
    • Steven
      Steven Maijoor Chair European Securities and Markets Authority (ESMA)
    • Jan
      Jan Boomaars Group Chief Executive Officer Optiver
    • Gilson
      Gilson Finkelsztain Chief Executive Officer B3 - Brasil Bolsa Balcão
    • Daniel
      Daniel Leon Head of MACS Engineering and Execution AXA Investment Managers (AXA IM)
  • 12:15 - 13:15:

    Session 3: Fireside Chat - William Coen, Secretary General, Basel Committee on Banking Supervision, Bank for International Settlement, in conversation with Edward Tilly, Chairman of the Board and Chief Executive Officer, Cboe Global Markets, Inc. (Cboe)

    Venue: Ballroom

    Speakers
    • Edward
      Edward Tilly Chairman of the Board and Chief Executive Officer Cboe Global Markets, Inc. (Cboe)
    • William
      William Coen Secretary General, Basel Committee on Banking Supervision Bank for International Settlements
  • 13:15 - 14:15:

    Lunch

    Venue: Golden Room
  • 14:15 - 15:15:

    Session 4: Fireside Chat - Arunma Oteh, Treasurer of the World Bank, in conversation with Nandini Sukumar, Chief Executive Officer of the World Federation of Exchanges

    Venue: Ballroom

    • Nandini
      Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
    • Arunma
      Arunma Oteh Treasurer The World Bank
  • 15:15 - 16:15:

    Session 5: The WFE Principles for Sustainable Exchanges

    Venue: Ballroom

    In the November 2017 UN Environment – World Bank Group Roadmap for a Sustainable Financial System the authors note that “sustainable growth will be one of the greatest challenges of the 21st century” and that “the full potential of the financial system needs to be harnessed to serve as an engine in the global economy’s transition toward sustainable development”. The Principles form part of the exchanges' contribution. Why is this something that market infrastructures should be looking at? How does this interact with the rest of the financial system? What role is there for multilaterals? Data availability, consistency and credibility is central to achieving many of the objectives set out in the Sustainable Development Goals and indeed the Principles – what do we need to do to get us there? How do we align differing perspectives on sustainability and different investor views on how they approach ESG and sustainability, with index products and other sustainability-related products? How do smaller markets, where issuers and investors are perhaps less convinced of the relevance of these issues, address these? 

    Moderator
    • Robert
      Robert Scharfe Chief Executive Officer Luxembourg Stock Exchange

    Panellists
    • Dr. James
      Dr. James Zhan Director, Investment and Enterprise United Nations Conference on Trade and Development (UNCTAD)
    • Nicky
      Nicky Newton-King Chief Executive Officer Johannesburg Stock Exchange
    • Laura M.
      Laura M. Cha Chairman Hong Kong Exchanges and Clearing Ltd
    • Alex
      Alex Matturri Chief Executive Officer S&P Dow Jones Indices (S&P DJI)
  • 16:30 - 18:00:

    Board of Directors Meeting 2

    WFE Board of Directors Only
    Venue: Golden Room
  • 18:30 - 22:30:

    Gala Dinner

    All Participants
    Venue: The Acropolis Museum

    *Buses will be leaving the hotel at 18:30. Please note that you will need your conference badge to be able to board the shuttle bus. 

  • 19:00 - 20:30:

    The Acropolis Museum Tour

    Venue: The Acropolis Museum

Day 3 - Thu 04 Oct

  • 08:00 - 18:00:

    Registration

    All participants
    Venue: Hallway Outside Ballroom
  • 09:00 - 09:15:

    Session 6: Brexit - Whither Now? - Chris Leslie, Member of Parliament, Labour and Cooperative Party, UK Parliament


    Speaker
    • Chris
      Chris Leslie Member of Parliament, Labour and Cooperative Party UK Parliament
  • 09:15 - 10:15:

    Session 7: Brexit for Markets - Getting to the Right Market Structure

    Venue: Ballroom

    As Britain prepares to leave the EU on March 29 2019, what can market infrastructures do to prepare for the great unknowns that lie in the short, medium and long-term? How is Brexit influencing decisions and thinking about the future of market structure? How will Brexit affect strategic choices for market infrastructures: around consolidation, around market structure, around liquidity, around mutual market access and around systemic stability? Will the centre of gravity shift to the Continent from London over the next five years? How should the industry be thinking and preparing for CCPs with systemic importance for EU financial stability that operate outside EU regulation and supervision and similarly for the UK?

    Moderator
    • Rainer
      Rainer Riess Director General Federation of European Securities Exchanges (FESE)

    Speaker
    • Andreas
      Andreas Preuss Deputy Chief Executive Officer Deutsche Börse AG
    • Jarkko
      Jarkko Syyrilä Head of Public Affairs Nordea Wealth Management
    • Chris
      Chris Leslie Member of Parliament, Labour and Cooperative Party UK Parliament
    • Caroline
      Caroline Silver Managing Director Moelis & Company
  • 10:15 - 10:45:

    Coffee Break

    Venue: Athenian Hall
  • 10:45 - 11:00:

    Session 9: Keynote - Masamichi Kono, Deputy Secretary-General, OECD

    Corporate Governance and Financial Market Infrastructures - the dual role of exchanges in developing sound and efficient financial markets.


    Speaker
    • Masamichi
      Masamichi Kono Deputy Secretary-General The Organisation for Economic Co-operation and Development (OECD)
  • 11:00 - 12:00:

    Session 10: A Race to the Top - Why Market Infrastructures Must Lead on Corporate Governance

    Exchanges have to balance the needs of multiple stakeholders including regulators, the buyside, issuers, trading participants and government. Exchanges also have to find the midpoint that promotes market development while still ensuring appropriate investor protection. How can they balance these sometimes competing demands and how do they appropriately align incentives to come to market with the costs?  What is the debate around ICOs telling us about balancing investor protection with regulated markets? How do we encourage more companies to list on well-regulated, transparent public markets when, for example, family-run businesses say their greatest concern is losing control? How do we avoid the adoption of a tick-box approach to corporate governance and get to a focus on substance, rather than form? Do we need global standards?

    Moderator
    • Alexander
      Alexander Afanasiev Chairman of the Executive Board and Chief Executive Officer Moscow Exchange (MOEX)

    Panellists
    • Sandy
      Sandy Frucher Vice Chairman Nasdaq
    • Ashishkumar
      Ashishkumar Chauhan Managing Director & Chief Executive Officer BSE Limited (Bombay Stock Exchange)
    • Masamichi
      Masamichi Kono Deputy Secretary-General The Organisation for Economic Co-operation and Development (OECD)
    • James
      James Andrus Investment Manager CalPERS
  • 12:00 - 12:10:

    Session 11: Samara Cohen, Managing Director & Head of iShares Global Markets, BlackRock

    Venue: Ballroom

    Panellists
    • Samara
      Samara Cohen Managing Director & Head of iShares Global Markets BlackRock
  • 12:10 - 13:10:

    Session 12: Thinking About ETFs - Too Hot? Too Cold? Just Right?

    Venue: Ballroom

    Exchanges, asset managers and regulators unite in the ETF market – an industry that has seen record-breaking investor inflows in recent years, innovation and, consequently, fresh regulatory scrutiny. Listed ETF/ETP assets topped US $5 trillion in May 2018, and have experienced a CAGR of nearly 19% over the last 10 years. Does the ETF market pose a new challenge to financial stability? Where is the growth coming from and why are they so popular today? What questions does the growth of synthetic ETFs pose for counterparty and credit risk? Do ETFs make the market more volatile? What implications does the growth have for liquidity on markets, especially in times of market stress? How can exchanges and investors balance the benefits of ETF listing with the challenges?

    Moderator
    • Jim
      Jim Kharouf Editor John Lothian News, John J. Lothian & Company, Inc.

    Panellists
    • Dr. Daniela
      Dr. Daniela Peterhoff Partner, Global Head of Market Infrastructure Oliver Wyman
    • Samara
      Samara Cohen Managing Director & Head of iShares Global Markets BlackRock
    • Ittai
      Ittai Ben-Zeev Chief Executive Officer Tel-Aviv Stock Exchange (TASE)
    • Kimon
      Kimon Volikas Managing Director Alpha Asset Management A.E.D.A.K., President, Hellenic Fund and Asset Management Association
  • 13:10 - 14:00:

    Lunch

    13:30 - Presentation by Andy Nybo, Director, Burton-Taylor Consulting
    Venue: Golden Room

    • Andy
      Andy Nybo Director Burton-Taylor International Consulting
  • 14:00 - 15:00:

    Session 13: From Exchanges to Crypto Platforms

    Venue: Ballroom

    Exchanges were the first FinTech firms. Twenty years on will the new breed of FinTechs disintermediate them? Or, as the ICO crisis has shown, are the fundamental values of transparency, strong regulation, investor protection and legal certainty still vital for well-functioning capital markets? Will they force primary markets into a new paradigm? Will a parallel form of primary markets emerge? Can the industry address that challenge by starting new cryptocurrency exchanges that are regulated to the same high threshold that’s needed? What should exchanges do to revitalise their capital raising mechanisms for SMEs & startups amid the digitalisation that’s bringing change to their models?  Exchanges & CCPs are embracing the innovation that new technology is bringing so where should they be looking as they seek to reaffirm their mandate as guardians of the public markets?

    Moderator
    • Dr. Matthias
      Dr. Matthias Voelkel Partner, Global Leader Capital Markets Infrastructure Practice McKinsey & Company

    Panellists
    • Socrates
      Socrates Lazaridis Chief Executive Officer Athens Stock Exchange
    • Joseph
      Joseph Gawronski President & COO Rosenblatt Securities
    • Kenneth T.
      Kenneth T. Schiciano Managing Director TA Associates
    • Dr. Pinar
      Dr. Pinar Emirdag Senior Vice President, Head of Digital Product Development and Innovation State Street
    • Jos
      Jos Dijsselhof Chief Executive Officer SIX Group
  • 15:00 - 16:15:

    Session 14: A Capital Future: How Market Infrastructures Need to Plan for the Next Decade

    The aim of the panel is to hear from our stakeholders: the buyside, the regulator, the issuer and the technologist about their vision for the exchange & CCP of the future. As exchanges & CCPs look to the next decade – what do our stakeholders need from us? What do stakeholders need from market infrastructures in terms of their role, their relevance, their mandate and their work? How does technology enable this vision? What can exchanges & CCPs do to meet stakeholder needs? What do exchanges & CCPs need to ask from their stakeholders? Is there a different request of emerging markets? How should markets develop? How can we, as industry, come together around a shared vision for fair, public, orderly markets where risk is managed, and innovation is fostered?

    Moderator
    • Mohamed
      Mohamed Farid Chairman The Egyptian Exchange (EGX)

    Panellists
    • Yazid M.
      Yazid M. Sharaiha Global Head of Systematic Strategies Norges Bank Investment Management
    • Peter K.
      Peter K. Lenardos Group CEO Cinnober Financial Technology AB
    • Theodore
      Theodore Fessas Chairman Quest Holdings, Chairman, Hellenic Federation of Enterprises (SEV)
    • Alp
      Alp Eroglu Senior Policy Advisor International Organisation of Securities Commissions (IOSCO)
  • 16:15 - 16:30:

    Closing Remarks

    Venue: Ballroom

    Speakers
    • Socrates
      Socrates Lazaridis Chief Executive Officer Athens Stock Exchange
    • Nandini
      Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
  • 16:30 - 18:00:

    Farewell Reception

    Venue: Golden Room