We spoke with Jeff Kidwell at AVM Direct Repo to hear why his firm is sponsoring Finadium’s Investors in Securities Lending Conference this April. It all comes down to decision makers figuring out answers to tough questions in the company of their peers.
Why has AVM Direct Repo decided to participate in the Finadium Investors in Securities Lending (FISL) conference?
AVM, L.P., founder of Direct Repo, has decided to engage based on a number of reasons, including a new focus and format for the conference, the Finadium name, and the opportunity for us to be heard in a forum of forward-thinking institutions. Some industry conferences roll out the same topics, panels, and speakers. The attendees get tired of the same pitches for panel and sponsorship.
This Finadium conference offers a completely different perspective on current issues. We all know about new regulations, but we are challenged to take the next step: what are the products and markets that offer opportunities now? The FISL conference, like Finadium itself, tends to ask the tough questions like what CCP efforts and central clearing are really accomplishing? Where are we on Basel III? What realistically could the Republicans and President-elect Trump actually roll back of Dodd-Frank? What is the scorecard for Triparty Repo?
AVM, with its Direct Repo and Direct Lending products, is uniquely positioned between cash provider and collateral provider clients, broker/dealers and regulators. We look forward to engaging in discussions with like-minded institutions.
Why do you think clients will benefit from attending?
This event is about discovering new ideas and opportunities for clients in their sectors and organizations. The conference has limited sponsorship, so clients will actually get a chance to hear how market participants are dealing with changes and not be bombarded with sales pitches.
The networking opportunity at this particular event will be huge. Having been a 34-year participant in several capacities of many of our Repo & Securities Lending conferences, I do not discount the efficient opportunity for attendees to meet with dozens of their repo counterparties and service providers in one location, sometimes even for 5-minute speed-dating sessions, without having to travel all over the world.
There is no better location for all of those people to meet than at the conference in New York City. Many of the other annual conferences have deliberately moved out of NYC to try exotic locations to lure attendees. While an attractive change for some attendees, it is not the most efficient use of one’s time for a 1 ½ day-3 day conference.
Do you see new opportunities for clients in financing markets?
The deleveraging of the entire market and disintermediation of broker/dealers has led to great opportunities for other pathways to market and liquidity. It has spawned furious work on CCPs, cleared tri-party, electronic trading platforms, Direct Repo or peer-to-peer financing, indemnified repo, As Agent financing, Direct Lending, special opportunity funds, the Fed’s RRP, and other structures. This has been the Big Bang in the financing markets.
Are there specific types of professionals who would benefit from a greater understanding of this market, and who should be sure to attend the conference?
I think all client sectors (money market funds, ETFs, seclending agents, banks, pension funds, GSEs, supranationals, municipalities, sovereign wealth funds, corporate treasurers, insurance companies, endowments, credit unions, hedge funds, REITs and asset managers) can benefit from a greater understanding of the securities finance market. I also think that traders, salespeople, analysts, credit folks, risk management folks, legal folks, all the way up to CIOs, CFOs, Treasurers, and CEOs should feel free to attend. People making the decisions on how their firms get involved in securities lending and repo will see the biggest benefits.
For more information on the Finadium Investors in Securities Lending Conferences this April in New York and London, please visit the event website.