Managing Currency Risk in the ETF Space

This program will explore ETFs as an asset class and the effect of market volatility — especially FX/currency volatility — on ETFs.

The Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association, is dedicated to promoting the highest standards of performance and ethics within the financial services industry.  “Managing Currency Risk in the ETF Space” has been approved for  4.75 CTFA credits.  CTFA credits should be distributed as follows: 4.75 INV.  This statement should not be viewed as an endorsement of this program or its sponsor.

AGENDA
8 a.m. | Registration and Coffee

8:30 a.m. | Welcoming Remarks

• Jason Trennert, Chairman and CEO, Strategas Research Partners
• Emcee: David Kotok, CIO of Cumberland Advisors and GIC Vice Chair of Central Banking Series

8:45 a.m. | Session I – Volatility in FX Markets
Has it increased since global central banks went to ZIRP or near-ZIRP

• Dino Kos, Head of Regulatory Affairs, CLS Bank International
• Kathleen Stephansen, Chief Economist and Senior Managing Director at AIG and GIC Board Member
• Moderator: Don Rissmiller, Founding Partner of Strategas Research Partners and GIC Board Member

9:45 a.m. | Session II – The ETF Sponsors
How they design products that have currency hedges

• Jeremy Schwartz, Director of Research, WisdomTree
• Joseph Nelesen, Director, iShares Product Management & Consulting
• Moderator: Rhonda Schaffler, Multimedia Video Reporter and Anchor, Reuters Insider

10:45 a.m. | Coffee Break

11 a.m. | Session III – The Market Makers/Creation Unit Providers
How they deal with currency exchange as they do their daily business. Is the market pricing efficiently?

• Mohit Bajaj, Director, ETF & Portfolio Trading Services at WallachBeth Capital
• Nicholas Colas, Managing Director and Chief Market Strategist, ConvergEx Group
• Dan Macklowitz, Senior Member of the ETF Sales and Trading Team, Jane Street
• Moderator: Vito Racanelli, Senior Editor of Barron’s

12 p.m. | Session IV – Determinants of Emerging Market FX Rates: Good, Bad and Ugly

• Catherine Mann, Barbara ’54 and Richard M. Rosenberg Chair in Global Finance at the International Business ­School, Brandeis University and GIC Board Member
• Moderator: David Kotok, CIO of Cumberland Advisors and GIC Vice Chair of Central Banking Series

12:45 p.m. | Concluding Remarks

• David Kotok, CIO of Cumberland Advisors and GIC Vice Chair of Central Banking Series