Opening Remarks

Pramod Koyothi, Co-chair of India Working Group - FIX Trading Community, and Executive Director, Global Banking & Markets – Equities - Goldman Sachs

Welcome Remarks

Alastair Richardson, Strategic Business Development Director - AMD

India’s Growth Story and the Changing Investment Landscape

This panel will explore India’s economic growth trajectory and its evolving investment landscape, focusing on global investor sentiment, the rise of ETFs and passive investing, and India’s inclusion in global bond indices. The discussion will also touch on ESG considerations, market developments, and practical implications for 2025, ensuring relevance to both domestic and international audiences.

• Economic Indicators, Structural Drivers and Projections
• Global Investor Sentiment Towards India - Factors driving interest (e.g., economic reforms, market stability)
• The Rise of ETFs and Passive Investing in India
• India’s Inclusion in Global Bond Indices
• ESG and Sustainable Investing in India
• Market Developments and Future Outlook

Panelists:

• Anil Ghelani, CFA, Head of Passive Investments & Products - DSP Mutual Fund
• Koel Ghosh, Executive Director, India Client Coverage - MSCI
• Dr. Tirthankar Patnaik, Chief Economist - NSE

Moderator:

• Joy Francis, Director – Global Markets, Electronic Trading Sales – APAC - UBS

Infrastructure & High-Frequency Trading – The Next Frontier

This panel will explore the pivotal role of infrastructure in High-Frequency Trading (HFT), focusing on how cutting-edge technology drives speed, efficiency, and competition in financial markets. The discussion will delve into critical opportunities and challenges, including market access and regulatory shifts, while also touching on emerging trends shaping this dynamic field. Offering a forward-looking view, the session unites industry voices to ensure relevance for both domestic and international audiences navigating the future of HFT.

• The Role of Infrastructure in HFT: How advanced technology and ultra-fast networks underpins low-latency trading strategies
• NSE’s Co-Location Expansion: Plans and implications for market access and fairness
• Evolution of Market Structure: How HFT influences liquidity, competition, and price discovery. Practical strategies for thriving in a low-latency world
• Regulatory Landscape and Market Access Dynamics: Adapting to rules impacting HFT operations and fairness
• FPGA and Hardware Innovations: Leveraging specialized hardware for a competitive edge
• Market Access Dynamics: Balancing competition and equality in the HFT ecosystem

Panelists:

• Rajib Ranjan Borah, Co-founder and CEO - iRage Broking Services LLP
• Elwin Jose, Head of Product Strategy and Services - NSE
• Sharath Kumar R N, Co-founder & CEO - 5-Swans
• Alastair Richardson, Strategic Business Development Director - AMD

Moderator:

• Matt Cretney, Head of Product Management - Beeks Group

Technology Panel: Next-Gen Trading Technologies

This panel will explore how resilience, cybersecurity, Generative AI (Gen-AI), and automation trends are collectively shaping the future of institutional trading, focusing on their interconnected challenges and opportunities. The discussion will delve into practical applications across these critical domains, while touching on regulatory considerations and emerging innovations, ensuring relevance to both traders and technologists navigating the dynamic landscape of electronic trading.

• The increasing role of AI/Gen-AI in trading systems and algorithmic trading tools
• Resilience and cybersecurity
• Leveraging Real-Time data and analytics for trading efficiency
• Automation for Streamlined Trading Workflows
• Advanced Monitoring for Trading Infrastructure

Panelists:

• Aniruddha Chatterjee, MD & CEO - NSE Cogencis
• Kunal Nandwani, Co-founder and CEO - uTrade Solutions
• Brian Pomraning, Chief Product Officer, Trading & Connectivity Solutions - Broadridge
• Rohan Vartak, APAC Relationship Manager - ITRS Group

Moderator:

• Anshuman Das, Managing Director and Chief Technology Officer - JM Financial Services

Fireside Chat: Cybersecurity in Financial Institutions: Global Threats, Indian Perspectives, and Best Practices

In an era of rapidly evolving cyber threats, financial institutions must prioritize cybersecurity to protect sensitive data and maintain resilience. This session will explore emerging global threats, best practices from leading financial institutions, and India's evolving regulatory landscape to enhance cyber defense.

• Jennifer Karkala, Director, Chief Information Security Officer (CISO) - BNP Paribas India
• Host: Edward Mangles, Regional Director, Asia Pacific - FIX Trading Community

Market Integrity – Surveillance, Compliance & Regulatory Changes

This session will delve into how regulatory developments in ensuring market integrity, focusing on SEBI’s measures to prevent market abuse.

• Viral Mehta, Lead, Private Equity and Financial Services Regulatory Practice - Nishith Desai Associates
• Khyati Dalal, Leader, Corporate Transaction, Private Equity and M&A Practice - Nishith Desai Associates

Fireside Chat - GIFT City: Unlocking India’s Global Trading & Investment Potential

This fireside chat will explore how GIFT City is unlocking India’s global trading and investment potential, focusing on key policy and regulatory developments that impact institutional trading. The discussion will delve into IFSCA’s latest initiatives, the 2025 budget’s implications for ETF trading, and the easing of capital controls to facilitate foreign capital flows. Additionally, it will cover the expansion of trading products and the opportunities for firms to engage in India’s evolving financial market

• IFSCA’s strategic initiatives and 2025 Budget boost
• Benefiting from enhanced global capital access
• Broadening trading horizons in derivatives, commodities, and FX
• Opportunities for Domestic and International Firms in India’s Financial Evolution

• Balaji Balasubramanian – Partner - Tax & Regulatory Services – Financial Services - Price Waterhouse & Co LLP
• Vijay Krishnamurthy, Managing Director and Chief Executive Officer - India INX

Welcome Remarks

Sriram Krishnan, Chief Business Development Officer - NSE

Regulatory Update

V S Sundaresan, Executive Director - SEBI

Global Market Structure Evolution: Lessons & Implications for India (Pre-Recorded Session)

This session will explore how global financial centers are adapting their market structures and what India can learn to enhance its own markets. It will examine regulatory frameworks in the U.S. and Europe, highlighting potential areas for India to improve exchange interoperability and market efficiency.

• Key trends in global market structures, including electronic trading and high-frequency trading
• Global regulatory approaches, particularly in the U.S. and Europe
• Lessons for India to enhance market efficiency and regulatory alignment

Winnie Khattar, Head of APAC Advocacy, BlackRock Global Markets - BlackRock Asset Management

The Evolving Market Structure of India: Balancing Innovation, Regulation & Growth

This panel will examine how India’s market structure is evolving, focusing on recent regulatory changes, the balance between institutional and retail participation. It will explore how innovation and regulation are driving growth, offering insights for stakeholders in India’s financial markets.

• Recent regulatory developments shaping India’s market structure
• Trends in institutional versus retail participation and their impacts
• Debates on the effectiveness of closing auctions and potential regulatory adjustments

Setting the scene: Update from NSE

Panelists:

• Jay Prakash Gupta, Founder - Dhan (Moneylicious Securities Pvt Ltd)
• Sriram Krishnan, Chief Business Development Officer - NSE
• Vinata Mhatre, Director, Asia Pacific Electronic Trading - BofA Securities
• Sandeep Sabnani, Product Strategy and Growth, Equities - ION Markets
• Manan Vaishnav, CAIA, Director & Head - Societe Generale Securities India

Moderator:

• Shekhar More, Director – Electronic Trading Services - Spark Institutional Equities Private Limited (“Avendus Spark”)

Exchange Interoperability and Its Impact on Liquidity and Execution Strategies

This panel will discuss how exchange interoperability can enhance liquidity and execution strategies in India, focusing on the potential of single contract notes to improve smart order routing and operational efficiency.

• Impact of single contract notes on smart order routing and efficiency
• Potential benefits and challenges of exchange interoperability in India
• Impact on liquidity and execution strategies
• Comparison with global best practices in market integration and liquidity

Panelists:

• Vaisshali Babu, Managing Director & CEO - BSE Clearing House – ICCL
• Suryadeep Das, CFA, Director, Electronic Trading Services (ETS) - Kotak Institutional Equities
• Pankaj Dhake, Electronic Sales Trader – Morgan Stanley

Moderator:

• Amit Vavle, Vice President, Electronic Sales Trading - Bernstein India

Closing Traders Debate: The Future of Institutional Trading in India

This session will focus on the future of institutional trading in India from the buy-side perspective, discussing their role in market structure evolution, the impact of technology and trading innovations, and challenges like liquidity and volatility. It will also explore the rise of ETFs and passive investing, and the buy-side’s wish list for improving execution quality.

• The buy-side’s role in shaping India’s evolving market structure
• Technology and innovation trends affecting buy-side trading strategies
• Challenges of liquidity, volatility, and market fragmentation for institutional traders
• Implications of growing ETF and passive investing on trading dynamics
• The buy-side’s priorities for enhancing execution quality

Panelist:

• Rathiesh Chandran, Head of Trading - Premji Invest
• Soniya More, Senior Equity Trader – IKIGAI Asset Manager
• Govind Patnaik, Co-chair of India Working Group - FIX Trading Community, and Vice President – Trading - Franklin Templeton
• Vishtaspa Rana, Head - Equity Trading - 3P Investment Managers

Moderator:

• Prashant Kedia, Electronic Sales Trader – Vice President - Jefferies India Private Limited

Closing Remarks

Govind Patnaik, Co-chair of India Working Group - FIX Trading Community, and Vice President – Trading - Franklin Templeton

Networking Cocktail
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