First Pan American FX Conference To Focus On Technology, ACI Agenda

The impact of technology on the foreign exchange market will be one of several topics on the agenda at the Association Cambiste Internationale's (ACI) first Pan American Regional Assembly early next month. The meeting, which is dubbed "Dealing in the 1990's: The Astonishing Drama of Change," is scheduled to take place in Montreal September 10 to 13.

The conference, which is being hosted by the Canadian Forex Club and organized by Co-Ordination Plus is open to all ACI members for a fee of $1,450. Organizers say 160 delegates have already signed up and they expect that 250 delegates will ultimately attend. Partial packages are also available.

Though the package also includes an enticing social program, the technology panel, "Innovations in Technology and Market Practices," will likely be a highlight. Ken Foxcroft, senior vice president, treasurer at Toronto-Dominion Bank, will moderate the session, which will include eight panelists. They include Telerate executive vice president Julia Childs, who is slated to discuss innovations in market information services, and Olivier LeCat, chairman of the Canadian steering committee for foreign exchange netting, who will address the developments in foreign exchange netting.

David Goone, senior marketing manager for currency products at the Chicago Mercantile Exchange, is slated to talk about the new developments in exchange-traded futures. An official from Micrognosis, which is also an exhibitor, is scheduled to discuss communications switches. An official from Nova-Link is set to talk about the future of trading desk design and an official from McCarthy, Crisanti, Maffei is slated to discuss innovations in technical analysis.

There was also expected to be a brief discussion on FX broking--automated vs. traditional voice contact with an official from Prebon Yamane (Canada) Limited and an official from Reuters Holdings PLC. However, Reuters has turned down its invitation to speak on the panel, a spokesman at the firm says. He declined to comment on why the firm had decided to forego the opportunity. Also initially slated to be part of that discussion, but no longer on the panel, was an official from Citibank subsidiary Quotron Systems Inc.

Another panel discussion that is likely to prove interesting is a session on Critical Issues Impacting the ACI. Senior officials from the ACI and representatives from the Forex Clubs will outline plans for future development of the Association.

The session will include ACI president and Midland Bank managing director David Clark; assistant secretary of the ACI and senior vice president treasury, Bank of Montreal, Philip Wilson; as well as Douglas Clarke, president of Forex Canada and assistant general manager of Toronto-Dominion's currency desk. Also on the panel: John Galbraith, president of Forex USA and treasurer at Banco Espanol de Credito in New York, and Giuseppe Dose, regional delegate of the ACI for the Americas and vice president and manager of Bank of America, San Francisco.

A few guest speakers have also been slated, including John Crow, governor of the Bank of Canada and Frank Ward, president of Corporate Performance Systems. Ward, who says his firm does "tactical implementation for investment, merchant and commercial banks," is planning to deliver a short address on some of the challenges that [banks] will have in building a great FX marketing organization as well as providing some insight into the challenges banks face in working with various clients. "Then we are going to ask the delegates to contrast those two X-rays with their organizations," he says.

Other sessions include a discussion on North American Free Trade, moderated by Diane Francis, editor of Toronto's Financial Post. Panelists include Rudi Dornbusch, Ford International Professor of Economics at MIT, John Crispo, professor of political economics at University of Toronto and Sergio Ghigliazza, director of CEMLA in Mexico City.

Also on the program is a discussion on the South American Perspective, moderated by Peter McPherson, executive vice president at Bank of America. Panelists include Roberto Alemann, former minister of economy, Argentina, Antonio Carlos Braga Lemgruber, director, vice president at Banco Liberal S/A in Brazil. Miguel Antonio Rodriguez, head minister of cordiplan in Venezuela is also on the panel.

Exhibitors are also expected, with Reuters Holdings PLC, Telerate/Dow Jones & Co. and Quotron Systems Inc. leading the way. Reuters, which has rented three booths at the show, is planning to bring along two Dealing 2000-2 keystations and one Dealing 2000-1 keystation. They will also be demonstrating the Globex futures order-matching system.

Telerate, which has also rented three booths at the exhibit is planning to bring Minex, TTS, as well as Matrix and Telerate Trading Room Products to Montreal, a spokesperson there says. Quotron, which is taking two booths, is coming equipped with F/X Trader, the Electronic Broking Service and FX Net.

California-based ADS Associates taking a booth and is bringing its suite of Global Trader foreign exchange software products with it. ADS was also at the annual ACI congress in Sydney in May. ATS Etrali is also taking booth space at the conference. Etrali will be showing its latest offering, the Etradeal digital trading turret. Its analog turret, Celtem Plus, won't be making the trip, an official at the ATS office in New York says.

Ontario-based Nova Link will be on hand with its line of trading desks. Forex '93 will be pushing the next ACI annual congress which is slated to take place in Helsinki next May. McCarthy, Crisanti & Maffei is planning to bring its screen-based analysis service CurrencyWatch to the show.

Spot Systems Inc. is also taking a booth. The San Francisco-based software provider is taking its full array of PC-based foreign exchange software programs with it, including its Global Limits Reporting and Foreign Exchange Trading modules. Spot Systems provides systems for regional and super-regional banks in the U.S.

Along the way, there will be a number of social events. In addition to the opening reception and cocktail party, a gala dinner is planned, which will feature "Canadian ice dancing talent in a spectacular location," according to the brochure. Delegates can also look forward to receiving nylon briefcases from Telerate, which will be given to each delegate.