Agenda

Agenda

HKEX FIC Summit Europe | Agenda

Wednesday, 25 September 2024

13:0014:00

Registration with Arrival Refreshments

13:00 - 14:00

14:0014:05

Welcome remarks

13:00 - 14:00

Bonnie Y CHAN

Chief Executive Officer,

HKEX

Bonnie Y Chan was appointed the Chief Executive Officer of Hong Kong Exchanges and Clearing Limited on 1 March 2024.

Ms Chan brings more than 30 years of global capital markets leadership and expertise. She has played a leading role in supporting the transformation of Hong Kong’s listed market and infrastructure, enhancing market quality, attractiveness, and efficiency, and helping position HKEX as a leading global exchange group.

Ms Chan has held leadership roles in legal and financial services with Asia-Pacific and global responsibilities. Before becoming CEO, Ms Chan was HKEX’s Co-Chief Operating Officer, where she oversaw the Group’s key operational and strategic functions. Ms Chan first joined HKEX as Head of IPO Transactions in 2007 from Morgan Stanley, where she spent four years leading the legal function for the investment bank’s Asia capital markets business. She rejoined HKEX in 2020 as Head of Listing, after serving as a partner at international law firm Davis Polk & Wardwell focusing on capital markets between 2010 and 2019.

Ms Chan is a frequent contributor to the World Economic Forum and is a member of the Forum’s Centre for Financial and Monetary Systems Advisory Council.

In Hong Kong, Ms Chan served as a member of the Financial Services Development Council between 2015 and 2018, and was a member of its Board of Directors between 2019 to 2020. She was also a member of the Standing Committee of Company Law Reform and the Disciplinary Panel of the Hong Kong Institute of Certified Public Accountants.

Ms Chan was recognised as one of the World Federation of Exchanges’ Women Leaders between 2021 and 2023. She was also recognised among IFLR1000’s Asia Best Lawyers in 2019 and was named The American Lawyer’s Dealmaker of the Year in 2018.  

Ms Chan holds a Bachelor of Laws from the University of Hong Kong and a Master of Laws from Harvard Law School. She is admitted as a solicitor in Hong Kong and an attorney at law in New York State. 

14:0514:10

Keynote speech

14:05 - 14:10

Jianyang MA

Chairman, Shanghai Clearing House

14:1014:25

Connecting Markets, Creating Fixed Income Opportunities

14:05 - 14:10

Glenda SO

Co-Head of Markets, HKEX

Glenda So is Co-Head of Markets at HKEX and is responsible for leading the Group’s market development in equities, fixed income and currency (FIC) and emerging business.

Ms. So is a member of the Management Committee at HKEX. She also serves as the Chief Executive of both subsidiaries at HKEX, the SEHK Options Clearing House Limited and OTC Clearing Hong Kong Limited. Additionally, she is a Board Director at Bond Connect Company Limited.

Ms. So joined HKEX in 2020 and has been instrumental in the establishment of HKEX’s international carbon marketplace, Core Climate. She has also led various enhancements to the Connect programme. These include the introduction of Swap Connect, the first derivatives market access link between Mainland China and Hong Kong that allows international investors to trade and clear onshore RMB interest rate swaps, as well as HKEX Synapse, a post-trade settlement acceleration platform for Northbound Stock Connect.

With nearly 30 years of experience in the global financial industry, Ms. So has held senior roles at various international banking and investment firms. Before joining HKEX, she spent four years as Chief Operating Officer of a macro hedge fund in Singapore. Prior to that, Ms. So had a 23-year career with Goldman Sachs in New York, and Hong Kong where she was a Managing Director responsible for Asia Ex-Japan Operations, Global Listed Derivatives and OTC Clearing Operations, as well as Asia Securities and Clearing Operations. She also spent three years in Currency Options Trading and Listed Derivatives Business Development.

Ms. So is a member of the Hong Kong Trade Development Council’s Financial Services Advisory Group.

Ms. So holds a Bachelor of Business Administration in Finance from Baruch College in the US.

14:2514:45

Global Economic Crossroads: Risks, Opportunities and Outlook of the FIC Market

14:10 - 14:30

Stephen KING

Senior Economic Advisor,

HSBC

Stephen King is an economist and author.

Stephen’s fourth book, We Need to Talk About Inflation, was published by Yale in April 2023 to widespread critical acclaim.  The Financial Times described the book as “highly readable and informative…essential reading for economic policymakers everywhere” while the Times said it was “brilliantly clear and concise”.  Mervyn King, former Governor of the Bank of England, described it as “timely, well-researched and very well-written”.

His last book, Grave New World: The End of Globalization, the Return of History (Yale, 2017) was long-listed for the FT-McKinsey Business Book of the Year and later picked as a ‘book of the year’ by the Financial Times.  It has since been translated into multiple languages.

Since 2018, Stephen has been a regular columnist for the London Evening Standard.  He has also written for, among others, the Financial Times, the Times, the Independent and the New York Times.  Between 2015 and the 2017 General Election, he was a Special Adviser to the House of Commons Treasury Committee.

Stephen is an accomplished public speaker and has presented at conferences all over the world.

As part of a portfolio of interests and following 17 years as HSBC’s Chief Global Economist, Stephen was appointed HSBC’s Senior Economic Adviser in 2015.

Stephen’s career began at H.M.Treasury, where he was an economic adviser within the civil service.

Stephen studied at New College, Oxford.  In his spare time, he plays the piano.

14:4515:15

China Fixed Income Landscape: Strategies and Market Insights

14:30 - 15:00

  • Market trends and investor sentiment in China fixed income investments
  • Challenges encountered by financial institutions and their adaptive measures
  • The current status and outlook of the FIC market from the perspective of market participants
  • Analysis and forecast of the trends in bond issuance
  • The driving forces behind the expanding participation of international investors in China’s onshore bond market
Robert NEWCOMBE

Vice President, Global Client Development - Europe, Markets, HKEX

Robert Newcombe is a Vice President at HKEX. He joined HKEX’s London office in September 2023 to help spearhead the European client coverage. After returning to the UK from Hong Kong in summer 2019, he spent time raising capital for a multi-strategy hedge fund in London. The bulk of his career was spent in Asia with BNP Paribas where he was most recently the Head of Equity Derivatives Flow Sales, APAC. He led the Equity Derivatives team which marketed a full range of equity derivative products to hedge funds, asset managers and pension fund clients. His primary focus was on alternative risk transfer trades and hidden asset classes such as volatility and correlation.

Robert joined the Tokyo office of BNP Paribas in 2005 and was promoted to head the Japan Flow Sales team in 2008. He was then based in Singapore from 2008 to 2016 covering Pan Asia Equity Derivatives.

Robert started his career at Dillon Read as European equity sales in 1989 before moving on to join Sun Life Investment Management in 1990, where he worked for the Japan and Asia Portfolio Management team. He switched to a sales role in London three years later, where he marketed Japanese Warrants and Convertible bonds.

With a career spanning over thirty years, Robert is an industry veteran with solid experience in the Asian markets.

Florence M H LEE

Head of Greater China Business Development - EMEA, Markets & Securities Services (MSS),

HSBC

Florence assists institutional clients in EMEA seeking to access the Greater China market through cross-border investment schemes including outbound and inbound side. In her MSS role, Florence helps to identify multi-asset class business opportunities for EMEA business covers both institutional and corporate clients and to formulate strategic business plans in relation to regulatory and market development for RMB internationalisation across MSS.

Florence is invited to government and industry working groups. She participates as speaker for China & RMB initiatives at public events organised by industry groups & central banks and is often quoted on major journal and media representing HSBC.

In 2006, Florence joined HSBC in Hong Kong as Vice President - Business Development for Securities Services and relocated to the UK in 2008. She also has experience in managing SWF and SOE clients from China. Prior to joining HSBC, Florence held various institutional sales and relationship management roles in the asset management for Fidelity, JP Morgan Asset Management and several local fund houses in Hong Kong.

Na LIN

Head of Financial Markets Department,

Bank of China Limited, London Branch

Ms. Na Lin is the Head of Financial Markets at Bank of China Limited, London Branch. With over two decades of experience in the financial market industry within the BOC group, Ms. Lin is a seasoned professional and dedicated to driving strategic initiatives and delivering value to clients, investors, and stakeholders.

Ms. Lin oversees Treasury Markets Operations including Money Market funding, bond issuance and fixed-income investment; as well as cross-assets sales function, primarily serving clients in Greater China and the EMEA region.  She specialises in trading, investment and sales of onshore and offshore RMB, G10 and EM FICC products.

Prior to her current role in London, Ms. Lin had served as the Head of Corporate Sales at Bank of China (Hong Kong) Limited for six years. She holds a Bachelor‘s Degree in International Finance from Wuhan University.

Jinny YAN

Managing Director, China Chief Economist,

ICBC Standard

Jinny joined ICBC Standard Bank in early 2016 as Chief China Economist, and leads the China markets strategy and research team. Her focus is to deliver China macroeconomic and market insights to internal and external stakeholders. Her team launched the Belt and Road Economic Indices, which offers unique insight into China’s increasing connectivity with emerging economies. She also helps stakeholders to understand more about China’s Interbank Bond Market (CIBM), as it opens further to foreign investor access. Prior to joining ICBCS, Jinny was a London-based Senior Economist at Standard Chartered Bank. She covered key China-Europe macro topics with a focus on Renminbi internationalisation. Her previous economist roles include covering China based in Shanghai, Europe, and supporting the Chief Economist. Heading up the European RMB Solutions team, Jinny chaired the Education and Marketing stream of the City of London’s Renminbi initiative. Widely recognised as a China and Renminbi expert in London, she makes frequent appearances in media and at high-level conferences. Jinny studied Economics (BA Hons) at the University of Durham. Later in her career, she gained her Masters of Development Studies (MSc.) from the London School of Economics.

15:1515:45

Navigating the International Journey of RMB and its Growing Product Ecosystem

15:00 - 15:30

  • Overview of the development of offshore RMB FX markets
  • Strategies for hedging FX risks and the available tools
  • USD/CNH liquidity in London trading hours 
Toby CHEUNG

Vice President, Global Client Development, Markets, HKEX

Ms. Toby Cheung has been working at HKEX for over 7 years. She is specialized in Over-the-Counter derivatives clearing services, including Swap Connect, Cross Currency Swaps and Interest Rates Swaps.  Prior to joining HKEX, Ms. Cheung was in HSBC’s Global Market Derivatives Clearing Services team for global futures and derivatives products clearing. Ms. Cheung holds an Economics degree from the University of British Columbia.

Graham BARNFIELD

Director, Asia FX & Rates Trading, BNPP

Graham joined BNP Paribas in London in 2018 to manage the Asia FX & Rates trading teams in London and New York. Prior to his role in BNP, Graham traded Emerging Market currencies in London, Zurich and Singapore and has previously worked at Barclays, UBS and RBC.

Erin Y J GU

Deputy Head of Financial Institutions,

China Construction Bank Corporation, London Branch

With over 13 years of extensive experience within China Construction Bank group, she has worked in the Investment Banking division and Asset Management division at China Construction Bank Head office. Erin joined China Construction Bank London in 2023 as the Deputy Head of Financial Institutions.

Beinan LIU

Director, Emerging Market Asia FX & China FX Trading,

Bank of America Merrill Lynch

Beinan Liu Joined BofA EM Asia FX trading in Aug 2018 as a Director. Beinan previously worked for Barclays in both G10 STIRT and EM Asia FX trading, he holds a PhD from Cambridge in genetics/neuroscience. He is based in London currently focusing on greater China FX.

15:4516:10

Networking break

15:30 - 15:55

16:1016:40

China Fixed Income Investment: Trading Strategies and Risk Management Tools

16:10 - 16:40

  • Overview and outlook of the onshore China bond futures landscape
  • Trading strategies of bond and swaps
  • Mitigating RMB interest rate risks through Swap Connect
  • Swap Connect as a liquidity catalyst in the RMB IRS market and its future developments
Byron BALDWIN

User Committee Member,

OTC Clearing Hong Kong Limited

Byron Baldwin is a member of the HKEX OTC Product Committee. Byron has over forty years experience in exchange traded derivatives and OTC IRS Clearing working with hedge funds, sovereign wealth funds, central banks and traditional fund management companies. He has written a number of articles on the use of derivatives in fund management. Has spoken extensively at conferences globally on OTC Clearing and on the use of various derivative products for the Buy Side. Byron read Monetary Economics at the London School of Economics for his B.Sc. (Econ.) degree, Finance for his M.Sc. degree at the University of Leicester Management Centre, Investment Management at the London Business School and in 2012 completed an evening OTC Clearing course at the NYU Law School. 

Jinming HU

Chief Executive Officer,

Guotai Junan Securities (UK) Limited

Jinming Hu, CEO of the Guotai Junan Securities (UK) Limited. Previously, Mr Hu served as the CEO of GF International Asset Management (UK) Limited from 2018 to 2020. Prior to that, Mr. Hu worked at China Construction Bank London Branch, where he was a Co-head of Treasury from 2012 to 2018. Mr Hu has more than 20 years of trading and investment experience in the banking and asset management industry. Mr Hu holds a master's degree from London Business School.

Trevor MALLINSON

Global Head of Electronic Rates Trading Business,

Bloomberg

Trevor Mallinson is Global Head of Bloomberg's Electronic Rates Trading business. During his time at Bloomberg he has led the development and deployment of Bloomberg's Multilateral Trading Facility alongside Fixed Income Trading Venues in the US, China, Japan and Singapore. He has also led the Market Structure team for the firm's trading business.

Prior to his time at Bloomberg, Trevor worked in the Fixed Income businesses of Goldman Sachs and JP Morgan. He is a member of the FCA's Secondary Markets Advisory Committee and is a graduate of The London School of Economics.

Andy NI

Head of International Cooperation Department, Shanghai Clearing House

“Andy NI is the Head of International Cooperation Department at Shanghai Clearinghouse. Prior to this role, he has held various risk management positions including the head of risk at SHCH. He led the establishment of the CCP risk management framework in the China's interbank financial market. He also serves as a co-chair of various working committees in the Global Association of Central Counterparties.

He previously held a variety of positions with Canada Mortgage and Housing Corporation’s Securitization Department and the Provincial Government of British Columbia.”

16:4017:10

Optimising Liquidity: Strategies for RMB Collateral Management

16:40 - 17:10

  • Current limitations to rehypothecate Chinese Government Bonds under Bond Connect
  • Applications of Chinese Government Bonds in offshore risk management
  • Factors driving the adoption of RMB assets in the secondary and Repo market
  • Enhanced efficiency of capital management with the use of Bond Connect bonds as Swap Connect collateral
Jacky MAK

Managing Director, Head of FIC Product Development, Emerging Business & FIC,

HKEX

Jacky Mak joined HKEX in mid 2016 and has served in several roles including Head of OTC Clear, Head of OTC & FIC Business Development and Head of Structured Product Development. Jacky Mak has been working in financial services and consulting industry for over 20 years. His roles have included chief financial officer of the Hong Kong and Taiwan branch of Société Générale's corporate and investment banking unit and director, OTC Clearing product development of HSBC's global banking and markets group in Hong Kong. Before joining HKEX, he was a Hong Kong-based director in Bank of America Merrill Lynch's global markets division. In addition to an undergraduate degree in computer science from the Hong Kong University of Science and Technology (HKUST), Mr Mak has an MBA and a Master's degree in investment management from HKUST. He also has completed the advanced management programme of French graduate business school INSEAD.

Marc KNAAP

Head of Partnerships and Managing Director, Cassini

Marc Knaap is the Head of Partnerships and managing director at Cassini, bringing a formidable 25-year history in financial services and technology sectors.

His journey encompasses diverse roles, including Sales Director positions at notable firms like ITRS Group PLC and Omgeo (a DTCC company), where he served as Director of Sales and Pre-Sales. Additionally, Marc’s experience includes an impactful tenure at Misys Risk Management, where he held the position of Executive Director of Sales and Marketing.

Susan YU

Executive Director, Financing & Securities Services,

Standard Chartered

Susan joined Standard Chartered Singapore in 2012 and spent 4 years in Singapore before moving to Standard Chartered London office in 2016. She leads and drives various strategic global projects within the bank and had participated in pilot schemes related to RMB internationalization and China capital market opening.

Currently she leads the business development activities for the Banks & Brokers segment for Financing & Securities Services, including driving market access to China, India, Korea and other Asian markets.

She studied mathematics and economics in the university and completed the MBA degree in Chicago Booth and Hong Kong University of Science and Technology. 

Yan LAM

Senior Vice President (Business Development), Central Moneymarkets Unit (CMU), Financial Market Infrastructure Service Division

Hong Kong Monetary Authority

Yan LAM is a veteran in the post trade industry for almost 20 years with work experiences across local and global custodian services, as well as financial market infrastructure. Over his time in the industry, he involved in various market wide initiatives including QFII/RQFII, Stock Connect, onshore CIBM scheme and Bond Connect.

Yan is currently a senior vice president in business development of the Central Moneymarkets Unit (CMU) at the Hong Kong Monetary Authority, responsible for driving and planning strategic business opportunity. Previously, he managed the Network Management team of the Post Trade Division at Hong Kong Exchanges and Clearing (HKEX) between 2017 and 2023. During his time at HKEX, he focused on both internal and external stakeholder engagement activities to drive solutions and manage outcomes. Before HKEX, he spent 12 years in State Street in various roles from middle office, custodian and network management.

Yan holds a bachelor’s degree in International Management from the University of Massachusetts, Boston.

17:1019:00

Networking Drinks

17:15 - 19:00

19:0019:00

End of HKEX FIC Summit Europe

19:00 - 19:01