Note: Remarks of all speakers will be simultaneously transmitted in Japanese and English.

8:15 AM

Registration and Continental Breakfast

9:00 AM

Welcoming Remarks
Scott O’Malia,
Chief Executive Officer, ISDA

9:15 AM

Keynote Address
Shigeru Ariizumi, Deputy Commissioner for International Affairs, Financial Services Agency (FSA), Japan

9:45 AM

Chairman's Remarks
Eric Litvack,
ISDA Chairman, Managing Director, Head of Regulatory Strategy, Société Générale Global Banking and Investor Solutions

10:00 AM

Fireside Chat: Discussion of the Trump Administration's US Public Policy Agenda – Outlook for Markets
A former ISDA CEO will join the current CEO in discussing the market implications of the Trump agenda.  From the US Treasury’s report of financial regulation to CFTC’s Project KISS, a number of initiatives are underway to review and improve the current regulatory framework. The discussion will examine the issues of greatest concern and interest and focus on what the US initiatives mean for financial markets participants in the US and around the world.
Rick Grove, Partner and Chief Executive Officer, Rutter Associates LLC
Scott O’Malia, Chief Executive Officer, ISDA

10:30 AM

Morning Break

11:00 AM

Cross Border Harmonization
The trend towards, and the benefits of, global financial markets were once a given. But today? Perhaps not so much. The lack of consistent standards and processes for determining and demonstrating comparability, coupled with significant differences amongst EU and US policymakers in certain of the rulesets, continue to concern market participants inside and outside the EU and the US. And then, of course, there’s Brexit. Can and will solutions be reached to harmonize regulations across jurisdictions and in so doing prevent market fragmentation and reduced market liquidity?
Moderator:  Steven Kennedy, Global Head of Public Policy, ISDA
Stephen M. Humenik, Of Counsel, Covington and Burling LLP
Minako Kusunoki, Senior Manager, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)
Leng-Fong Lai, Partner, Clifford Chance
Eric Litvack, ISDA Chairman, Managing Director, Head of Regulatory Strategy, Société Générale Global Banking and Investor Solutions
Tetsuharu Minowa, Deputy Director for Office of International Affairs, Financial Services Agency (FSA), Japan

12:00 PM

Luncheon

1:30 PM

MiFID II
The Markets in Financial Instruments Directive/Regulation has already changed European derivatives trading, and will have ripples beyond Europe’s borders. With three months to go until MiFIR II/MiFIR comes in to force, however, It is unclear how a large number of rules should be read by derivative market participants. Even where guidance has been provided this has often raised more questions. This panel takes stock of what we know so far, outlines where more clarity is needed, considers what impact we might expect to see going forward and discusses how the transparency requirements are expected to work in practice and develop over time.
Moderator: Yosuke Inaida, ISDA Board Member, Senior Managing Director, Joint Head of Global Markets Japan, Nomura Securities Co., Ltd.
Takashi Akiyama, Director, Deutsche Securities Inc.
Motoyasu Fujita, Partner, Capital Markets Group (Structured Finance & Derivatives), Linklaters
Atsuya Watanabe, Director, Markets and Securities Services, Citigroup Global Markets Japan Inc.

2:30 PM

Japanese Implementation of Basel 3 – What Next?
The Basel Committee has still not finalized the final Basel III reform package due to disagreements over its overall impact. In the US, the Treasury report to President Trump recommends re-assessing the timing and calibration of key elements if the capital reforms. Meanwhile Europe is moving ahead with implementation but with proposals that diverge significantly from Basel. Against this backdrop of uncertainty our panel of regulators, practitioners and end users will consider:

  • What does this mean for Japanese implementation? Should Japan wait and see or front-run other jurisdictions and what are the potential consequences?
  • Will the final Basel agreement work for the Japanese financial system and what are the areas of greatest concern?
  • A capital regime that works for prudential regulators and the wider economy, yet remains globally harmonized – how to achieve it?
  • Basel implementation beyond Japan- the EU, US and other Asia-Pac.

Moderator:  Mark Gheerbrant, Head of Risk and Capital, ISDA
Kenji Fujii, Managing Executive Officer, Member of the Board of Directors, Head of Global Risk Management, Mizuho Securities Co., Ltd
Tsuyoshi Hirano, Managing Director, Group Risk Management Department, Nomura Holdings, Inc.
Vanessa Le Leslé, Managing Director, Head of Regulatory Affairs, Asia Pacific, J.P. Morgan
Shunsuke Shirakawa, Vice Commissioner for International Affairs, Financial Services Agency (FSA), Japan

3:30 PM

Afternoon Break

4:00 PM

Building Better Benchmark Arrangements
The FSB, IOSCO and regulators around the world have all focused on the need to construct robust benchmarks supported by tradable prices and reliable fallback mechanisms. This panel will discuss the importance of this work in the interest rate sphere, with a particular focus on recent Japanese developments including the work on Japanese Yen Risk Free Rate and contractual documentation considerations in the event of disruption to a benchmark.
Moderator: Tomoko Morita, Senior Director and Head of Tokyo Office, ISDA
Katherine Darras, General Counsel, ISDA
Ryota Hattori, Head of Market Infrastructure Division, Financial Markets Department, Bank of Japan
Masanobu Ichiya, ISDA Board Member, Managing Director and Head of the Derivative Trading Department, Mizuho Securities Co., Ltd
Kazuhiro Ikebe, Senior Manager, Treasury and ALM Division, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)
Takahiko Kaneko, Head of Strategic Planning Division and OTC Derivatives Clearing Service, Japan Securities Clearing Corporation (JSCC)

5:00 PM

Conference Concludes

Agenda is subject to change

- REGISTRATION FEE* -
$ 450 (member) / $ 550 (non-member)
*The invoice total must be paid in full. Registration fees are net of tax and wire transfer fees are not included.