<p>1 </p><p>Advisory Board: Christian Schoeppe, Head of FX Trading, Deutsche AWM Patrick Fleur, Managing Director, PGGM Lee Sanders, Head of FX, AXA Investment Management David Denison, Head of FX, Man Group</p><p>Keynote and Guest Speakers: Marshall Bailey, President, ACI Gordon Ibrahim, Senior Portfolio Manager, Blackrock Paul Chappell, CIO, C-View Michael Metcalfe, Senior Managing Director, Head of Multi Asset Strategy, State Street Global Markets Andy Harvey, Managing Director Europe, GFMA Scott Greene, Managing Partner, Louis Capital FX Sandra Ro, Executive Director, Head of FX, CME Group Mark Lamb, CEO, Coinfloor</p><p>Asset Managers and Hedge Funds: Christian Schoeppe, Head of FX Trading, Deutsche AWM Lee Sanders, Head of FX, AXA Investment Management Patrick Fleur, Managing Director, PGGM Brigitte Le Bris, Global Head of Fixed Income and Currency, Natixis Asset Management Peter Lundgreen, CEO, Lundgreen Capital Jacob Bartram, Head of FX, Orwell Capital Jonathan Davies, Head of Currency, UBS Asset Management David Berry, Market Data Sourcing, UBS AG Victor Lebreton, Managing Director, Quant Hedge Fund Saeed Amen, Managing Director and Co-Founder, The Thalesians James Sharpe, Managing Partner, Sharpe & Sigsworth Associates Francesco Scotto, CEO and portfolio manager, RTFX Fund Management Scott Buford, CIO of C-View Stelrox Systematic Program, C-View Ronald Lagarde, Forex and Derivatives Senior Trader, APG Asset Management Benjamin Lesch, Quantitative Analyst, Man Group Hendrik Klein, CEO, Da Vinci Invest Michael Petley, CIO, The ECU group François Bonnin, CEO, John Locke Investments Paul Lambert, Head of Currency, Insight Investment Christopher Cruden, CEO, Insch Capital Management SA Mark Cudmore, Trader, MCFXCapital Jon Vollemaere, Founder & CEO, R5FX Philippe Bonnefoy, Founder, Eleuthera Capital AG 2 </p><p>Currency Managers: Yoav Barnes, Managing Director, Victory FX Felix Adams, Founder, ACT Currency Joe Cassidy, Managing Partner, The Conebury Partnership </p><p>Sell Side: Takis Spiropoulos, Managing Director of Global E-Commerce, CIBC Sergei Sinkevich, Head of Direct Market Access, Otkritie Capital Pete Eggleston, Managing Director, Morgan Stanley Ciara Quinlan, UBS Jeremy Smart, Global Head of e-distribution & Head of Currencies & Local Markets Sales EMEA, The Royal Bank of Scotland Technology Providers: Paul Tivnann, Global Head of FX & Commodity Electronic Trading, Bloomberg LP Ian Domowitz, CEO ITG Solutions Network and Managing Director, ITG Andy Young, Specialist Sales Director Capital Markets, Colt Fergal Toomey, Chief Scientist and Founder, Corvil Andrew Rossiter, CTO, ADS Securities (TBC)</p><p>Industry Experts and Associations: Alex McDonald, CEO, WMBA PJ Di Giammarino, CEO, JWG-IT Group Limited Richard Folcker, Director, Claesson Capital Introduction AB Marcus Hooper, Managing Director, Agora Global Consultants Ltd Mike O’Hara, Director, The Realization Group Rebecca Healey, Senior Analyst, Tabb Group Pierre Lequeux, Former Head of Currency Management, Aviva Achim Walde, Former Head of Currency Management, Oppenheim Asset Management Peter Schwendner, Lecturer, Zurich University of Applied Sciences</p><p>08.00 Registration & Breakfast 08.45 Chairperson Opening Remarks: PJ Di Giammarino, CEO, JWG-IT Group Limited Transitioning To A New Transparent Market 09.00 Opening Keynote: A review of the foreign exchange market- what are the major challenges and opportunities you will face in 2015?  With the current lack of market volatility, where can you source new opportunities in 2015?  What are the key trends and currencies you should look out for over the next 12 months?  Trading from a multi-asset point of view- where should FX fit in as part of a multi-asset portfolio?</p><p>Gordon Ibrahim, Senior Portfolio Manager, Blackrock 09.20 Guest Presentation: Achieving best execution in FX Options and Emerging Markets- Are FX Intermediaries the future?  What are the structural inefficiencies with the traditional way of trading OTC FX Options and Emerging Markets and how does the FX Intermediary resolve them?  Do OTC options and Emerging Markets require the ‘human touch’ rather than e-trading in order to achieve best execution?  How will regulatory developments influence the emergence of the FX Intermediary industry?  What are the obstacles to engagement of FX Intermediary services? 3 </p><p>Scott Greene, Managing Partner, Louis Capital FX</p><p>09.40 Industry Keynote: The big issue - How is the FX industry reacting to ‘a new derivative order’ post EMIR and Dodd-Frank implementation?  Exploring the impact regulation will have on the operating activities of the various parties in the industry  Comparing EMIR with the Dodd-Frank Act – clarifying the opportunities these regulations aim to bring  Have the timelines been realistic to achieve the goals set to the industry?  Have counterparts had enough education to be able to successfully operate in the new environment? Sandra Ro, Head of FX, CME Group 10.00 Regulatory Keynote: MiFID II Proposal: Drilling down the details and implications on your trading desk  The details of the legislative proposal and its impact on markets  Market structure and transparency objectives  Regulatory actions required to avoid killing market liquidity  How MiFID II promotes competition to open up market infrastructure and lower the cost of widespread investment services  How will the shift from a functional to a more rules-based impact market activities</p><p>Andy Harvey, Managing Director Europe, GFMA 10:20 Morning Networking Break Adapting Your Trading Operations Stream A Stream B PJ Di Giammarino, CEO, JWG-IT Group Limited Mike O’Hara, Director, The Realization Group</p><p>11.00: 360° Perspective 11.00: Drill Down Roundtables How can you manage the conflicts in EMIR and Utilising new technologies and trading strategies to remain Dodd-Frank to ensure clients globally receive a compliant, reduce costs and achieve best execution- Choose your uniform service? roundtable:  What are the similarities and differences of 1) Will the low volatility and reduced volume in FX continue the two regulations? into 2015 and how can you adjust your business to combat  Issues encountered in cross-border the consequences? transactions and how to overcome them Hosted by: Yoav Barnes, Managing Director, Victory FX  Should the SEC, CFTC, ESMA and ISDA work 2) Systematically harvesting risk premium and news analytics to implement a one glove fits all system or based trading in FX should the two regulations remain Hosted by: Saeed Amen, Managing Director and Co- independent? Founder, The Thalesians Moderator: PJ Di Giammarino, CEO, JWG-IT 3) TCA- making informed trading decisions and add value to Group Limited the execution process. - Andy Harvey, Managing Director Europe, Hosted by: Pete Eggleston, Managing Director, Morgan GFMA Stanley - Alex McDonald, CEO, WMBA - Paul Tivnann, Global Head of FX & Commodity Electronic Trading, Bloomberg LP 4 </p><p>11.45: Case Study Revolution 11.45: Drill Down Roundtables The transition of FX to an exchange traded Utilising new technologies and trading strategies to remain model: Is it good or bad for the FX community? compliant, reduce costs and achieve best execution- Choose your  What cost implications does moving to an e- roundtable: trading model have? 4) Algorithmic Trading- Defining algorithmic trading and how  Who are key providers of electronic platforms? it differs from automated trading: How can it benefit your  How do non-deliverable forwards’ fi t in to the FX trading strategies? outlook for e-trading? Hosted by: Victor Lebreton, Managing Director, Quant  Will there be greater access to emerging Hedge Fund markets? 5) Benefits of adopting a systematic trading approach for  Will they boost volumes in the FX market? investing in global markets  Is the industry ready to embrace a transparent Hosted by: Francios Bonnin, CEO, John Locke Investments 6) Judging the quality and value of liquidity provision in a last trading system? look environment. Hosted by: Jeremy Smart, Global Head of e-distribution & - Hendrik Klein, CEO, Da Vinci Invest Head of Currencies & Local Markets Sales EMEA, The Royal Bank of Scotland 12.45 Networking Lunch Evolving Technology And Trading Strategies Stream A Stream B PJ Di Giammarino, CEO, JWG-IT Group Limited Mike O’Hara, Director, The Realization Group 14.15: Case Study 14.15: Case Study Using pre trade analytics to navigate through the fragmented FX Addressing the visibility and performance market- determining the ideal time to trade to get the best price Trading Plants  Update on new TCA studies reflecting trading patterns and cost  Discussing the visibility challenges currently being encountered as FX trends moves to an e-trading format  How can you determine the best time to trade  How to mitigate the visibility challenges by tuning into real-time  The signals you should look for to decide when it is safe to trade streaming across the FX network to provide real-time  Is the market liquid enough- Are you trading into a hurricane? intelligence  Outlining the pre-trade tools required to determine the best time to  Strategic solutions for driving an ultra-low latency solution with better trade and get the best price fill, tighter spreads and low rejection rates to win in today's competitive market. Ian Domowitz, CEO ITG Solutions Network and Managing Director, ITG Fergal Toomey, Chief Scientist and Founder, Andrew Rossiter, CTO, ADS Securities (TBC) 14.40: Case Study Systematic trading and CTAs: an analysis  What is systematic trading and how does it compare to a discretionary, fundamental-driven approach?  Worked example of a trend following trade  CTAs- Who are they and what returns have they delivered?  What are the benefits of investing in CTAs when combined with other traditional investment classes</p><p>Jacob Bartram, Head of FX, Orwell Capital 5 </p><p>14.35: 360° Perspective 15:05: Case Study How do you benchmark FX trades using TCA? How can you use ‘super speed’ high frequency trading (HFT) to remain  What have the major developments been in FX TCA? competitive amongst your peers?  How to help buy-side achieve pricing competitiveness?  What algos are being used today?  How do you measure TCA from a clients perspective – total cost  Discussing the benefit of implementing HFT, do the costs warrant it? including compliance  Identifying low-latency connectivity between venues  Continuing the debate: Is TCA relevant or is it more suited to equities?  How has the move towards a more transparent market impacted  How does TCA positively impact investment strategies? HFT? Sergei Sinkevich, Head of Direct Market Access, Moderator: Rebecca Healey, Senior Analyst, Tabb Group - Christian Schoeppe, Head FX Trading Asset Management, Deutsche AWM - Patrick Fleur, Managing Director, PGGM - Takis Spiropoulos, Managing Director of Global E-Commerce, CIBC - Ronald Lagarde, Forex and Derivatives Senior Trader, APG Asset Management - Ciara Quinlan, UBS 15.15: 360° Perspective 15.30: Case Study The evolution of FX E-trading- Challenges and opportunities created by Solutions to stop the latency race the electronification of the FX market  How is the race for increased speed in trading affecting the market?  How can you improve the speed and efficiency of your trading  What do you need to create an internal infrastructure for high speed activities to keep ahead in the market and improve execution? transportation of information?  What can FX learn from other asset classes when it comes to  How can you stop the latency race using frequent batch options? electronic trading strategies and technologies?  What can regulators do to create a fairer, more open market place?  Will the electronification of the FX market attract a heavier regulatory touch? François Bonnin, CEO, John Locke Investments  What do you need to prosper in an increasingly electronic FX market and how can you future proof your eFX platform?  What are the best practice strategies you can undertake to predict movements and find trends in masses of market data?</p><p>Moderator: Rebecca Healey, Senior Analyst, Tabb Group - Victor Lebreton, Managing Director, Quant Hedge Fund - Lee Sanders, Head of FX, AXA Investment - Andy Young, Specialist Sales Director Capital Markets, Colt - David Berry, Market Data Sourcing, UBS AG 15.55 Afternoon Networking Break 16.30 360° Perspective FX as an asset class of its own- How to generate alpha  Historical and future outcome of FX alpha – are there any market conditions that favour alpha strategies better than others? - Historical outcome of FX alpha the last 3-5 years? - What are the return prospects and risk factors over the next 3 years? - What will be the position of FX in asset allocation strategies once interest rates start rising?  Common strategies vs. tailored strategies - benefits of being part of the herd vs. being on your own - Determining strategies that yield significant returns  Cross product margining - a prerequisite for efficient FX alpha strategies? 6 </p><p>- How to integrate FX into portfolios?  Retail FX Alpha - long term strategies vs. outright bets - As the most liquid asset, why does FX struggle to gain recognition as an asset class?</p><p>Moderator: Ashwind Soonarane, Global FX Liquidity and Distribution, 7Hedge - James Sharpe, Managing Partner, Sharpe & Sigsworth Associates - Jonathan Davies, Head of Currency, UBS Asset Management - Yoav Barnes, Managing Director, Victory FX - Gordon Ibrahim, Senior Portfolio Manager, Blackrock 17.15 Guest Presentation All you need to know about investing in Bitcoins  How have the views on Bitcoins evolved?  What technological developments have there been to make transactions more user friendly?  How can Bitcoins be traded?  What will be the position of Bitcoins in the next 5 years?</p><p>Mark Lamb, CEO, Coinfloor 17.35 Chairpersons closing remarks: PJ Di Giammarino, CEO, JWG-IT Group Limited 17.40 Cocktail Drinks Reception</p><p>08.20 Registration and Breakfast 08.50 Chairperson Opening Remarks: Mike O’Hara, Director, The Realization Group FX Macro Outlook 09.00 Industry Keynote: The global drive for improved regulatory codes of conduct, the FX investigations, and what it means for the industry  A focus on culture change in financial markets - what is taking place in the industry?  How the politicians see it, and what we can do about it  What steps do you need to take to protect your institution and yourself? Marshall Bailey, President, ACI</p><p>Marshall Bailey, President, ACI 7 </p><p>09.20 Buyside Keynote: Reviewing the macro-economic landscape of the last 12 months – What key trends should you be capitalising on?  Discovering the trends that have defined the FX market  What currency pairs have shown most promising returns?  Evaluating the low yield environment in Europe impacted investor participation in FX?  Looking at the major policy changes that have significantly shaken the FX market? Paul Chappell, CIO, C-View</p><p>09:40 In Conversation Panel: Discretionary Trading-Which method is best for achieving trade execution?  What are the benefits of discretionary trading methods?  What kind of investor is suited to the discretionary trade?  In a market where pioneering technology is leading the way in transforming trading strategies, why is automated trading not more popular?  What are good discretionary strategies and what key factors need to be taken into account when making trade decisions?  Will automated trading eventually replace most discretionary trading?</p><p>Moderator: Marcus Hooper, Managing Director, Agora Global Consultants - Yoav Barnes, Managing Director, Victory FX - Mark Cudmore, MCFXCapital - Philippe Bonnefoy, Founder, Eleuthera Capital AG 10:30 Morning Networking Break New Frontiers In Cost And Risk Management Stream A Stream B Mike O’Hara, Director, The Realization Group Rebecca Healey, Senior Analyst, Tabb Group 11.15: Case Study 11.15: Synergy Workshop FX risks through the eyes of The Basel Committee on Banking FX Markets structural changes and implications for currency managers Supervision (‘BCBS’)  A growing history of randomness of currency markets  Guidance for managing risks to avoid financial disruptions and regulatory  Factors behind the Structural changes of FX markets attention  Structural changes and Currency manager performance  How to address governance, principal risk, replacement cost risk, liquidity  Implication for currency managers and investors risk, operational risk, legal risk and capital for FX transactions Pierre Lequeux, Former Head of Currency Management,  Is this a template for all FX users?</p><p>James Sharpe, Managing Partner, Sharpe & Sigsworth Associates 11.40: Case Study How to position your trading desk to respond to the new FX market- structure  Nurturing the relationship between liquidity streaming banks and their counterparties  Will fragmentation lead to a more robust system or will a liquidity mirage evolve and become more present in the market?  Adopting best practices for a renewed OTC market place  Incorporating hedging tools to mitigate risk</p><p>Scott Buford, CIO of C-View Stelrox Systematic Program, C-View 8 </p><p>12.05: Case Study How to use FX to efficiently mitigate portfolio risk?  What are the major risk factors traders are keen to combat?  Is FX a hedging class or can be considered as an asset class?  How traders can use FX as an effective hedging tool to mitigate risk in their investment portfolio?  How to hedge against loss within your portfolio by using FX as an Asset Class? Francesco Scotto, CEO and Portfolio Manager, RTFX Fund Management 12.30 Networking Lunch Defining Opportunities In Global Currnecies Stream A Stream B Mike O’Hara, Director, The Realization Group Rebecca Healey, Senior Analyst, Tabb Group 14.00: 360° Perspective 14.00: Case Study Emerging vs. G10 currencies: What are the best short term and long Key currency drivers in 2015 term opportunities?  Inflation or deflation: Which way to go and what does it mean for  Are high returns the main deciding factor when deciding which currencies currencies to trade?  Where does the money goes next year?  Where are the liquidity pools and how long term are they?  Risk appetite, still a dominant driver?  Yield or low risk – which is more desirable?  Central bank policy, a clear path towards the future?  How appealing will emerging market currencies be once interests Achim Walde, Head of Currency Management, rates within Europe and the US rise? Management 14.20: Case Study Moderator: Jon Vollemaere, Founder & CEO, R5FX EM FX: Where the opportunities lie in the year ahead - Peter Lundgreen, CEO, Lundgreen Capital  Key themes dominating EM FX - Brigitte Le Bris, Head of FI and Currency, Natixis Asset management  Trading EM -not just fundamentals and technical- how to navigate - Felix Adam, Founder, ACT Currency these discrepancies when trading? - Paul Lambert, Head of Currency, Insight Investment  Accounting for these variables, where might the opportunities lie in the year ahead  Where are the miss-pricings where stale stories are no longer supported by fundamentals: What might be the triggers for the story to change? Mark Cudmore, MCFXCapital 14.45: 360° Perspective: 14.45: Case Study Benchmarking fixing rates tools: Which is the best to obtain the most Currency correlations in various timeframes and what this means for competitive trade rates? trading strategies  How have we moved past the recent scrutiny of Fixing?  How do correlations evolve on different timeframes  How transparent and reliable are fix rates following Libor probes?  How to detect interesting trading situations across several currencies  Identifying the big players in sec-sec technology  How value, momentum and carry strategies perform depending on the  What value does fixing technology bring to the clients business? current environment </p><p>Moderator: Alex McDonald, CEO, WMBA Peter Schwendner, Lecturer, Zurich University of Applied Sciences - Patrick Fleur, Managing Director, PGGM 15.10: Case Study - Christian Schoeppe, Head FX Trading Asset Management, Deutsche How to diversify your portfolio by investing in the Renminbi AWM  What the opportunities are in off shore Renminbi investments? - David Berry, Market Data Sourcing, UBS AG 9 </p><p> How reliable is the Chinese market?  Correlation of tapering and market position of RMB  What are the realistic returns of Renminbi investment? Peter Lundgreen, CEO, Lundgreen Capital 15:30 Afternoon Networking Break 16:00 360° Perspective: Evaluating the role of the Euro: What place should it have in your currency portfolio?  How have central bank unconventional monetary policies over the last 12 months impacted the stability of the Euro?  Has a currency war emerged with the Euro and its neighbouring currencies?  How will the Euro react to a rise in interest rates?  How has the turbulence within Europe impacted the position of the Euro?  What impact has QE had on the Euro?</p><p>Moderator: Michael Metcalfe, Senior Managing Director, Head of Multi Asset Strategy, State Street Global Markets - Benjamin Lesch, Quantitative Analyst, Man Group - Paul Lambert, Head of Currency, Insight Investment - Christopher Cruden, CEO, Insch Capital Management SA - Achim Walde, Head of Currency Management, Oppenheim Asset Management 16:40 Closing Keynote: Challenging emerging market assumptions- Insights from investor behaviour  Emerging markets have not decoupled  Emerging markets- a bubble waiting to burst?  Will emerging markets be vulnerable to capital flight when US interest rates rise and/ China slows</p><p>Michael Metcalfe, Senior Managing Director, Head of Multi Asset Strategy, State Street Global Markets 17.00 Chairperson Closing Remarks: Mike O’Hara, Director, The Realization Group 17:05 Conference Close</p>