Programme - CorpActions

CorpActions 2018

Welcome to CorpActions 2018, Wednesday, October 3rd at Canary Wharf

As ever this agenda is a work-in-progress and we proceed towards the event in October. We will be including additional speakers, greater detail and more surprises as we go. We also have a new venue for 2018 with higher capacity and more accessible for our attendees, in the heart of Canary Wharf.

8.15	Registration Opens
	Morning refreshment and pastries Meet the exhibitors including product demonstrations and begin networking with your peers from across Europe

8.50	Chairman's Welcome
	James Cunningham, Managing Director and Senior Advisor, Office of Public Policy and Regulatory Affairs, The Bank of New York Mellon

9.00	Chairman's Overview: A Review Of The Big Changes Affecting The Corporate Actions World, The Drivers Behind Them and The Key Discussions Of The Day
	James Cunningham, Managing Director and Senior Advisor, Office of Public Policy and Regulatory Affairs, The Bank of New York Mellon

9.30	Regulatory Challenges and Opportunities
	Two foundational pieces of legislation, The Shareholder Rights Directive II (SRD II) and the Central Securities Depository Regulation (CSDR) will have an impact on core processes for people in corporate actions and asset servicing. We will review these and also the allied issue of the increasing costs of compliance and its effect upon overall business operating budgets. We shall also review the issues of sanctions and PRIIPS. Finally we shall consider the issue of Brexit and its implications for UK-based business models and potential disruption to the alignment of the UK with European practices and regulations. Virginie O'Shea, Research Director, Aite Group James Cunningham, Managing Director and Senior Advisor, Office of Public Policy and Regulatory Affairs, The Bank of New York Mellon Sean M. Tuffy, Head of Market and Regulatory Intelligence, EMEA Custody & Fund Services, Citi Dr. Sabine Dittrich, Global Head of Regulatory Intelligence, UBS Asset Management

10.15	Harmonisation and Standardisation Developments - T2S and Market Player Adaptions
	- The Single Rulebook For Collateral Management: A review of the developing harmonisation rules for processing events on securities used as collateral. Particularly Eurosystem eligible debt instruments and around business processes and workflows. What is driving compliance? - The recent role of SWIFT and ISO standards in advancing T2S and standardisation and harmonisation. - In the area of SDR2 what solutions are forthcoming? Does SWIFT have a role, or DLT industry efforts? - A look at the recent updating of the CAJWG standards and improvements in compliance monitoring. - The proposed merger of the CASG and the CAJWG. Will this drive compliance with market standards? - How do we move the industry further towards greater standards harmonisation? - As the settlement layer of T2S is implemented, what next steps are in development? (trading, clearing and or custody centralisation/harmonisation). - What are the benefits of integrating T2 with T2S for the different securities related processes (Settlement, Corporate Actions and Collateral)? Jacques Littré, Lead Analyst, Standards, SWIFT Ben van der Velpen, Senior Securities Market Consultant, ING Marcello Topa, Market Policy and Strategy Director, Citi Gary McNamara, Adviser, European Central Bank

11.00	Networking Break with Vendor Demonstrations Meet the exhibitors and network with your peers

11.30	Corporate Governance and Proxy Voting
	A review of the latest developments within corporate governance, with a particular focus upon the requirements of the Shareholder's Directive and transparency. Edwin De Pauw, Director, Head of Project Management Europe, Euroclear Werner Frey, Managing Director, Post Trade, AFME Demi Derem, General Manager, Investor Communication Solutions International, Broadridge Financial Solutions Pierre Colladon, Senior Advisor, Strategy for Market Infrastructures, Societe Generale Securities Services Dr. Markus Kaum, Attorney at Law, Munich Re

12.15	Corporate Actions in the Front Office: Generating Alpha
	Corporate actions have come to be seen not just as a post-trade activity, but also an area of interest for the front office as firms seek to leverage arbitrage opportunities. These opportunities require timely and correct data but also potentially brings risks of missed opportunities and bad data. For other parts of the business, the developing interest in corporate actions via trading options elevates the importance of the area to the business. It offers additional justification to increase automation, demand access to greater levels of intraday data and increase overall spend. Is this to the advantage of operational / post-trade teams? Some areas of consideration: Data: collection at point of generation; limiting human input; dealing with contaminated data; centralised data warehousing; universal access to data warehouse; Alpha: where the above conditions are met, then the generation of alpha will be enabled. We will consider the most appropriate methods to do this. Simon Bennett, Independent Consultant, Domain Matters Sven Crausaz, Head of Proxy Voting Group (and Corporate Actions), Pictet Shahid Banglawala, Data Scientist, BGC Partners Michael Wood, Head of Asset Servicing Product Management, Broadridge Financial Solutions

13.00	Networking Lunch Meet the exhibitors and network with your peers

2.15	Automation and Disruptive Technology
	Traditional levers to reduce cost such as process re-engineering, off-shoring and reductions in force are reaching their limits, near exhaustion. End User Solutions (Excel Macros etc) are fragmented with swivel chair processing, manual data movements, manual recs bringing errors, rework and inconsistent delivery. The growing awareness of sophisticated FinTech solutions and therefore their supply are growing fast. The goal is to reduce costs and risk, to gain market share among competitors and win new clients. Many firms are engaged in pilot projects, proof of concepts, start-up partnerships and ordering themselves in working groups to evaluate the benefits and the pitfalls of this disruptive tech. Blockchain & Distributed Ledger Technology (DLT), Artificial Intelligence, Digitisation and marginally older generation technology which has now bedded in, such as cloud services. We outline what some firms have been doing, what results they are finding and what comes next so that you can benchmark this against your own efforts and judge its utility against the costs and time resources, for your organisation. Additionally, how disruptive are these upstarts towards longer-term methods of automation? Who will be the end beneficiaries and winners and what are some of the lesser known hazards? Some consideration will be given to the following areas, among others: The experience of using Robotic Process Automation (RPA) to overcome repetitive manual tasks within the CoAc field Corporate Actions Translation: through Natural Language Processing, Understanding and Generation (NLP/NLU/NLG) and Text Analytics through optical character recognition (OCR) The creation of virtual agents and chatbots The importance of change management as disruptive technology modifies workflow across different teams and business process management (BPM) The needs of GDPR and data protection Finally, how can this be applied in a limited or more comprehensive way, depending on individual business size, needs and demands John Kirkpatrick, MD, Global Head of Asset Servicing, JP Morgan Securities Services Suzana Tadic, AI Business Program Lead, Artificial Intelligence and Digital Transformation, BNP Paribas Securities Services Ted Anastasi, Head of Sales and Marketing, Fidelity Corporate Actions Solutions James Daw, Wealth and Asset Management Technology Advisory, EY

3.15	Networking Break with Vendor Demonstrations Afternoon refreshment and pastries

3.45	Buyside Drill-Down: A Look At The Needs Of The End Investors
	What is the current STP benchmark for corporate actions processing and asset servicing as whole? Where is the most manual intervention being seen in the corporate actions life cycle? Which data sources should buyside firms rely on? What is the response to a lack of consistency from counterparties? Are asset managers taking on more risk; where from? Where is most complexity coming from. How should we approach it. Are volumes rising, if so is it seasonal? Quantifying the ROI of ISO 20022 adoption and annual SWIFT releases and at what stage are the industry in adoption? What are the buyside industry trends around outsourcing and vendor solutions? Paul Sinthunont, Buyside Analyst, AITE Group (moderator) Darren Giles, Director \| Head of EMEA Corporate Actions Global Investment Operations, BlackRock George Harris, Business and Senior Product Manager, XSP, FIS Mariangela Fumagalli, Head of Asset Servicing, Global Product and Regulatory Solutions, BNP Paribas Securities Services

4.15	Taxation and Reporting
	An interactive session looking at taxation, reporting and compliance issues in the areas of corporate actions processing and asset servicing. Some of these areas willl include: Inefficient withholding tax collection procedures Communication flow issues across cross-border capital markets Tax evasion regulation Where does/should the responsibility for failures lie? Entitlements Ross McGill, Chairman, T-Consult Mariano Giralt, Global Head of Tax & Regulatory, Global Product Management – Asset Servicing, BNY Mellon Paola Deantoni, Senior Adviser, Executive Management, SG Securities Services (Spa.)

5.00	Chairman's Closing Remarks
	James Cunningham, Managing Director and Senior Advisor, Office of Public Policy and Regulatory Affairs, The Bank of New York Mellon