Programme*

For more information about the programme and speaking opportunities, please contact:

Shaun Jones 

Tel: +44 (0)20 7743 9360
Email: shaun.jones@afme.eu  

 

 

 

 AFME 7th Annual European Government Bond Conference  

Sovereign Debt Markets: Keep Calm and Carry On

 

8th-9th November 2012, Conrad Hotel, Brussels   

 

                        Day 1- Thursday 8th November 2012     

 18.30-19.30  

 

 Registration/ Networking Drinks 
   

   

19.30-23.00  

 

Dinner (attendance by invitation only)  
 
    Dinner Speaker: TBC
 

 

 

 
 
                       Day 2- Friday 9th November 2012      
 

08.00-08.45

 
    Late Registration   

 

  

 

08.45-09.00

 


 

Opening Remarks and Overview of the State of the Markets  

 
 

09.00-09.45

  

Opening Keynote Address 
  
 

09.45-10.45

 

 The Future of the Eurozone  

  •  What action is needed to restore confidence in the European government bond markets? 
  •  What are the scenarios for the future of the Eurozone? 
  •  How likely are these scenarios?  
  •  What are the chances the Eurozone will break up?  
  •  What will be the consequences of a Eurozone break up? In the short and long run? How could contagion be prevented? 
 

10.45-11.15

 

 Coffee Break  

 

11.15-12.15

  

 The Future of Liquidity Provisions: The Market Maker Model Under Fire?  

  • How will regulation affect the structure of the government bond markets?
  • What will be the impact on the market maker model of MiFID II in Europe and the US Volcker rule?
  • Will MIFIDs post trade price transparency requirments make the Primary Dealers' quoting obligation redundant?
  • Will the regulatory collateral, capital and liquidity requirments create shortages and impact liquidity in government bonds?
  • Will B-to-B platforms be able to add liquidity to the market?

 

 

12.15-13.45

Networking Lunch 

 

 
13.45-14.45

 

Breakout Discussions 

 

A) Investor Trends: Developments in liquidity and portfolio management  

 

B) Past and future of Eurozone common funding: EFSM, EFSF, ESM...Stability Bonds 

  

C) Macro economic projections for the European economy 

 

D) Issuance techniques during the crisis 

 

 

 

  

14.45-15.15

 Coffee Break 

15.15-16.15

 

Credit Risk: Analysing and Hedging Sovereign Risk 

 

  • How does the introduction of futures in France and Italy impact these markets
  • Are these futures used to hedge or to speculate
  • What role do credit rating agencies play int he markets
  • What role has CDS played in the markets over recent years?
  • Do CDS drive bond prices?
  • Are they a useful tool for managing and assessing credit risk?
  • How does their usage for CVA hedging of IRS portfolios with sovereigns impact the market?
  • How have CDS volumes developed over the past years?
  • What other tools do market participants use to assess credit risk? Indices?

  

     
 

16.15-17.00
 
Closing Keynote Address 
  

17.00-17.15

 

 Chairman’s Closing Remarks  

 

 

 

 

  * The programme may be subject to change