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Leaders’ Exchange

Luc Fortin, President and CEO, Montréal Exchange and Global Head of Trading, TMX Group and Étienne Dubuc, Executive Vice-President, Financial Markets at National Bank will discuss how the two organizations have been able to thrive in fast-paced markets and the vital role played by derivatives in financial markets. The two leaders will cover asset class diversification, the role played by technology and how to compete on the global stage.

Cérémonie d’ouverture des marchés

Fireside Chat: Interest Rates - Past, Present, Futures

At its meeting in June 2022, the BoC raised its benchmark overnight interest rate by 50 bps, to 1.50%. It was the BoC’s second consecutive 50-bps rate hike. The BoC also noted that it was continuing to reduce its sizeable balance sheet and needed to remain aggressive to avoid the risk of higher inflation taking root in the Canadian economy. Meanwhile, the Fed proceeded with its largest rate increase since 1994. The Fed raised the target range of its federal funds rate by 75 bps, to 1.50%-1.75%, citing surging inflationary pressures. At CADC, Earl commented that he saw rates rising significantly in the next year, with a peak somewhere near 6%. The audience GASPED! Higher rates? That can’t happen.... Well, let’s revisit rates then, now and tomorrow...

Navigating Volatility: Strategies for Institutions to Manage Risk and Uncertainty

This panel discussion will explore effective approaches that institutions can use to manage volatility in the market. It will emphasize the importance of risk management, while highlighting relevant strategies such as hedging, diversification, tactical allocation and scenario planning. We hope to provide insights into how institutions can develop resilience and adaptability when confronted with volatility and uncertainty, with the goal of achieving long-term stability and success.

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The Future of Credit Trading

For a smaller jurisdiction, Canada has an unusually well-developed corporate bond market, such that firms can obtain funding by issuing securities rather than borrowing. However, trading practices in this market have been slow to change, despite the 2008-2009 financial crisis and despite the growth in trading systems in other countries. In this panel discussion, four experts on corporate bonds give their perspectives on the past, present and future of Canada's corporate bond markets, including the potential for ETFs and for a new credit futures product.

Digital Assets: Signs of a Crypto Spring?

The crypto industry weathered a brutal and very public winter in 2022, facing unprecedented macroeconomic conditions and failures among household crypto names. In 2023, there are signs of fresh growth: adoption, investment, products and innovation. Join Robert Tasca, Managing Director, Derivatives Products and Services at TMX, and Andy Baehr, CFA, Managing Director at CoinDesk Indices to discuss trends in use case, access, governance and benchmarking for cryptocurrencies and how new ideas will emerge through thoughtful leadership.

Déjeuner / Présentation

Curt Harnett, C.M., OLY

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Using the Micro to Trade the Macro

In this fireside chat, Ian and Corey discuss a data-driven approach to assessing macro trends – five graphical examples of using the micro data to gain access to the right macro approach.

Examining Alternatives for a Post-CDOR Era

Following the cessation of the publication of CDOR after June 28, 2024, the expectation is that the Bankers’ Acceptance (BA)-based lending model and thus the creation of BAs sold to investors, will be discontinued. BA issuance is expected to progressively drop as the CDOR cessation date nears. BAs offer investors a relatively attractive yield over other short-term assets, including GoC and provincial treasury bills, while still being relatively liquid and well rated since they share the same credit rating as the issuing banks.

Investors will need to consider other alternative investment options to be able to transition their investment portfolios successfully from BAs.

What other alternatives are being considered and what are the conditions for feasibility and acceptance of these other alternatives? Are there known constraints? What are the conditions required to ensure adequate supply and demand of these potential replacements to BAs?

Our panel of industry experts weigh in with their views on these important questions.

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Term CORRA: Canada’s Trusted Benchmark

CanDeal Benchmark Administration Services is Canada’s newest benchmark administrator. This presentation will explain the process used to provide trusted benchmark Term CORRA rates for Canada’s derivatives and lending markets.

Term CORRA. The evolution of risk-free rates.

CORRA is Canada's new risk-free rate. As we approach June 2024, CDOR is on its last legs. The market, in consultation with CARR, has endorsed the forward-looking term CORRA rate as a way to address the needs of the Canadian loan market. This panel explores those challenges and the development of a methodology that will enable Canada to transition to a new suite of risk-free rate products.

Strategy Sparring Session

Fixed income strategists are part of the quantitative analysis and research teams found at major banks. This role is focused on developing analytical tools to determine high-value trades. The goal is to help managers and traders manage bond portfolios effectively. The role also serves as a key link between trading and sales, between economists and forecasters. It is, in essence, where ideas and predictions are thoughtfully considered and fine-tuned for delivery to an audience looking for answers. The MX had the pleasure of engaging with these two top strategists on a recent 3-city roadshow. Always engaging, thought-provoking and entertaining, the current scorecard has these professional debaters mired in a draw for the ultimate strategist’s victory. Let the debate begin. Who will take the crown as top CADC strategist? You decide...

Remarques de clôture :

Cocktail / Réception