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CAPITAL MARKETS &

THE KINGDOM OF

SAUDI ARABIA-

Delivering Liquidity & Depth

in Derivatives, Financing &

Secondary Bond Markets

(scroll to explore)
Co-ORGANISERS
  • CMF SELECT
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    CMF Select is a series of targeted events held under the umbrella of the broader Capital Markets Forum event series. These events will focus on specialized topics within the capital markets landscape, of specific relevance to Saudi Arabia and participating countries, providing in-depth insights and fostering high-level discussions among industry leaders, experts, and professionals. Designed to complement the Capital Markets Forum, the Select series offers targeted sessions, and networking opportunities.

  • ABOUT THE EVENT

    The International Capital Market Association (ICMA), International Swaps & Derivatives Association (ISDA) and the International Securities Lending Association (ISLA) and the Saudi Tadawul Group will hold a one-day conference, 'Capital Markets & the Kingdom of Saudi Arabia - Delivering Liquidity Through Derivatives, Repo & Securities Lending’, on 19 February 2025, in Riyadh.

    This complimentary event will explore the growth of Saudi Arabia's financial markets, fuelled by Vision 2030 and the Future Investment Initiative. Join the discussion on how derivatives, repo, and securities lending can drive secondary market liquidity, but also gain valuable insights and updates on key regulatory reforms, the evolution of crucial netting provisions, and the integration of Sharia-compliant market structures.

8:50AM

Opening Speech

Minister of Finance and Chairman of the Financial Sector Development Program Committee

See them at
February, 18
12:00 AM
1-1 Session with H.E. Mohammed Aljadaan
Biography

H.E. Mohammed bin Abdullah Al-Jadaan is the Minister of Finance, a Board Member of the Public Investment Fund, a Board Member of Saudi Aramco, the Chairman of General Authority of State Real Estate, and has membership in several government entities. He represents the Kingdom of Saudi Arabia in several events around the world, including a Member of the OPEC Ministerial Council for International Development Fund, a Member of the Governor's Board of the International Monetary Fund, heads of the Kingdom's delegation to the meetings of finance ministers and central bank governors of the G20, Governor of the Kingdom at the Asian Infrastructure Investment Bank, a Member of the Governor's Board of the Islamic Development Bank, a Member of the Governor's Board of Arab Financial Institutions, and Member of the Council of Arab Finance Ministers.

H.E Mohammed bin Abdullah Al-Jadaan holds a bachelor's degree in Islamic law focusing on Islamic economics from Imam Mohammed Ibn Saud Islamic University and a diploma in Legal Studies from the Institute of Public Administration in Riyadh.

  • Brief introduction to event’s theme and objectives
  • [Explanation of "The Capital Horizon" as defining the Middle East's increasing importance as a global financial center similar to "the Global South", "BRICs" etc]
  • Increased interconnectedness of global markets and the importance of cross-border collaboration and investment
  • Emphasis on the need for innovation, adaptability, and collaboration
9.00 AM

Opening Speech by the Lord Mayor of the City of London

Speakers
  • speaker
    Alderman Professor Michael Mainellir

    The Rt Hon The Lord Mayor of London, City of London

9.10 AM

Opening Speech by the Chairperson of the Saudi Tadawul Group

Speakers
  • speaker
    Sarah AlSuhaimi

    Chairperson, Saudi Tadawul Group

9.20 AM

Keynote Dialogue 1: HMG’s Investment Strategy and Opportunities for UK-KSA Collaboration by the Minister of State for Investment of the United Kingdom

Speakers
  • speaker
    Poppy Gustafsson

    Minister of State for Investment of the United Kingdom, HM Treasury

9.35 AM

Keynote Dialogue 2: UK/KSA Financial Services Cooperation.

The Economic Secretary to the Treasury will provide a keynote speech about ongoing cooperation between HM Treasury and the KSA Ministry of Finance on financial services.

Speakers
  • speaker
    Tulip Siddiq

    Economic Secretary to the Treasury and City Minister, HM Treasury

9.50 AM

Fireside Chat 1: UK/KSA Financial Services Cooperation

The Economic Secretary to the Treasury will provide a keynote speech about ongoing cooperation between HM Treasury and the KSA Ministry of Finance on financial services.

Speakers
  • Tulip Siddiq, Economic Secretary to the Treasury and City Minister, HM Treasury
9.55 AM

Fireside Chat: Global Standards: Enhancing Saudi-UK Capital Market Integration

His Excellency Capital Market Authority Chairman of Saudi Arabia will discuss the regulatory frameworks established by the CMA and its UK counterpart to ensure transparency, integrity, and investor protection within capital markets.

Speakers
  • speaker
    H.E. Mohammed Elkuwaiz

    Chairman, Capital Market Authority of Saudi Arabia

Moderator
  • speaker
    Mohammed Islam

    Host & Founder, The Mo Show

10.15 AM

Panel 1: Unleashing Capital Market Potential

Discussing the diversity of investment opportunities such as fixed income, cross-listings, and the growth of the Saudi Exchange

Discussing the latest trends shaping global capital markets, including digital transformation, ESG investing, and regulatory developments

Identify opportunities for cross-border collaboration, potential investment sectors, and strategies for facilitating international capital flows and market integration.

Speakers
  • speaker
    Charlie Walker

    Deputy Chief Executive Officer, London Stock Exchange

  • speaker
    Lee Hodgkinson

    Group Chief Strategy Officer, Saudi Tadawul Group

  • speaker
    Faris AlGhannam

    Chief Executive Officer, HSBC Saudi Arabia

Moderator
  • speaker
    Nicola Watkinson

    Managing Director - International Team, TheCityUK

12.00 PM

Panel 2: New Horizons: How the Investment Landscape is Evolving

Discuss strategic initiatives and progress made by KSA organizations represented on the panel in diversifying KSA’s economy, with a focus on specific investment and projects.

The importance of a global approach to investment.

Investment opportunities in both the UK and KSA, including opportunities for UK/KSA companies and businesses to work together to promote growth in both jurisdictions.

Speakers
  • speaker
    Abdulaziz AlAjaji

    Regional Co-Head MENA & Chief Executive Officer, Morgan Stanley Saudi Arabia

  • speaker
    Dr. Abdullah AlShwer

    Chief Executive Officer, Riyad Capital

  • speaker
    Tim Reid

    Chief Executive Officer, UK Export Finance

Moderator
  • speaker
    Sallianne Taylor

    Head of Government Affairs - EMEA, Bloomberg

12.45 PM

Panel 3: Integrating Sustainability into the Financial Services Sector: Opportunities and Risks for Investment and Regulation

Overview of the UK and KSA’s approach to sustainable finance (from a regulation and investment perspective).

The role of the UK and KSA in the global sustainability effort.

Opportunities for UK/KSA collaboration on sustainable finance.

Speakers
  • speaker
    Abdulaziz AlOnaizan

    Chief Executive Officer, Bank AlBilad

  • speaker
    Vanessa Havard-Williams

    Chairperson, The Transition Finance Market Review

  • speaker
    Dana Barsky

    Global Head of Sustainability Strategy & Net Zero, Standard Chartered

Moderator
  • speaker
    Jack Knight

    Deputy CEO, Investment Association

8:50AM - 9:00AM

Sprint 1: Global Economic Outlook: Evolving Global Dynamics and Economic Shifts

Globalisation and geoeconomics drove macro-economics for decades, but further shocks to the system drive the geopolitical balance higher in the world view. In an era of sluggish growth (rate cuts, inflation, US elections) many have a cautiously optimistic view. What is the latest economic outlook globally, and what are the different regional influences driving the global economy?

9:00AM - 9:10AM

Sprint 2: Middle East Economic Outlook: Regional Growth, Economic Diversification, and Driving FDI

The IMF predicted growth for the region, and growth expectations in the region outpace those of all other regions. With major reforms and projects still pressing ahead, we are seeing the impacts of non-oil reliance progressing further.
This session will deep dive into regional economics and in particular Saudi Arabia. With growth across consumption, travel, tourism and hospitality, how does that help drive FDI and further growth to progress the agenda towards 2030?

Speakers
  • speaker
    Ahmed Shams El Din

    Head of Research
    EFG Holding KSA

9:10AM - 9:20AM

Sprint 3: The Evolution of Capital Flows

Examining theoretical foundations of capital flows in a rapidly transforming global economy. Building on macroeconomic and regional insights from the previous sessions, this session will focus on the shifting paradigms of capital allocation across borders, sectors, and asset classes. How are key sectors responding to the evolving economic landscape and regional dynamics outlined earlier. What are the forces reshaping industries such as technology, energy, healthcare, and finance, (focusing on digital transformation, green initiatives, and demographic-driven demands).

Speakers
  • speaker
    Raman Subramanian

    Managing Director & Global Head of Solutions Research
    MSCI

9:20AM - 9:30AM

Sprint 4: Commodities and Growth: Unveiling Opportunities in a Dynamic Market

This session will explore the transformative role of commodities in shaping the GCC’s economic growth and advancing its capital markets. Despite shifts in supply and demand dynamics, the region is uniquely positioned to leverage its commodities expertise to drive innovation, resilience, and long-term value creation. Panelists will delve into strategies for navigating market fluctuations, enhancing competitiveness, and leveraging the potential of commodities to support regional and global economic ambitions.

Speakers
  • speaker
    Russell Robertson

    Chief Commercial Officer
    Gulf Mercantile Exchange

9:30AM - 9:50AM

Sprint 5: Economic Express: Fast-Tracking Insights on Global Capital Trends

In this rapid-fire session, top economists and financial leaders tackle the most pressing questions shaping global capital markets today. From evolving economic landscapes to regional dynamics driving growth, this engaging Q&A format will deliver fast-paced, insightful discussions on emerging trends, challenges, and opportunities. With a focus on audience interaction, panelists will share their perspectives on navigating uncertainties and leveraging innovative strategies to sustain economic momentum in a multipolar world.

Speakers
  • speaker
    Rajeev Sibal

    Senior Global Economist
    Morgan Stanley

  • speaker
    Shakir Iqbal

    Head of CEEMEA Equity Sales
    J. P. Morgan

9:50AM - 10:05AM

KAFD in Focus: Building a Business Ecosystem

An exclusive fireside chat which unveils the latest milestones in KAFD’s transformative journey. Discover the nexus between urban development, economic diversification, and strategic connections and how they are shaping a financial center of the future.

Speakers
  • speaker
    Ibrahim AlSughayer

    Chief Financial Officer
    KAFD

12:15PM - 12:50PM

Panel 3: Global Capital Markets: Enhancing Resilience and Connectivity

This panel will bring together global leaders from leading exchanges and financial organizations to discuss strategies for enhancing market resilience and improving risk management amid global challenges. Panellists will discuss the critical role of exchanges in advancing ESG standards, fostering sustainable finance, and driving technological innovation. The discussion will also focus on the power of international collaboration and market integration to enhance global connectivity, improve transparency, and align regulatory frameworks, ensuring a robust and interconnected global financial ecosystem.

Speakers
  • speaker
    Eng. Khalid AlHussan

    Chief Executive Officer
    Saudi Tadawul Group

  • speaker
    Bonnie Y Chan

    Chief Executive Officer
    Hong Kong Exchanges and Clearing Limited (HKEX)

  • speaker
    Bob McCooey

    Vice Chairman, Head of International Listings
    Nasdaq

  • speaker
    Nandini Sukumar

    Chief Executive Officer
    The World Federation of Exchanges

12:50PM - 1:35PM

Panel 4: From Desert to Dynamo: The Middle East's Capital Market Transformation

This panel will explore the future of GCC markets and their pivotal role in attracting foreign direct investment (FDI) to stimulate international demand. As global supply chains evolve and investor priorities shift, greater collaboration within and between regional blocs presents significant opportunities. Key topics will include the benefits of closer cooperation on cross-listings, leveraging competitive strengths and shared values, and understanding the trends driving investor focus. The discussion will also address the impact of global economic headwinds on the region and how embracing sustainability is shaping the transition to a post-oil economy, positioning GCC markets for long-term growth and resilience.

Speakers
  • speaker
    Shaikh Khalifa AlKhalifa

    Chief Executive Officer
    Bahrain Bourse

  • speaker
    Abdulla AlNuaimi

    Chief Executive Officer
    Abu Dhabi Securities Exchange

  • speaker
    Haitham AlSalmi

    Chief Executive Officer
    Muscat Stock Exchange

  • speaker
    Abdulaziz AlEmadi

    Chief Executive Officer
    Qatar Stock Exchange

10:25AM - 10:45AM

Fireside Chat 1: Saudi Arabia's Economic Horizon: Beyond Growth on the International Stage

As the Kingdom's economy continues to reach and surpass key milestones—(trillion-dollar economic standing, non-oil activities half of GDP, investment projected to rise to 28% of GDP by 2030, and economists predicting stronger FDI inflows)—the messages seem to say there is still much more to come on the horizon. With significant strides in tourism and events like Expo 2030 and the FIFA World Cup 2034 confirmed, how does the Kingdom envision its position on the international stage, and what more opportunities do we see for it ahead?

10:45AM - 11:10AM

Panel 1: The Proliferation of Potential: Where to Invest in a Multipolar World

As the global economy becomes increasingly multipolar, Hong Kong, United States, United Kingdom and Saudi Arabia emerge as pivotal markets shaping the future of capital flows and investment strategies. This session brings together representatives from the influential regions to discuss how shifting economic power and interconnected markets are redefining opportunities for investors. Panelists will delve into macroeconomic trends that are reshaping global capital flows and impacting investment decisions.

The conversation will also dive into the investment landscapes of these regions, address strategies for balancing risks and rewards in emerging economies, offering practical insights on diversification and building resilient portfolios for sustainable growth in an evolving global financial landscape.

Speakers
  • speaker
    H.E. Eng. Khaled AlFaleh

    Minister of Investment of Saudi Arabia

11:10AM - 11:30AM

Fireside Chat 2: Shaping Saudi Arabia’s Economic Vision: Innovation, Growth, and Global Integration

This fireside chat will explore the Kingdom’s strategic priorities for economic diversification and sustainable growth. The conversation will focus on the evolving global landscape, Saudi Arabia’s efforts to attract foreign direct investment (FDI), and the pivotal role of innovation in driving development. The discussion will also delve into how Saudi Arabia is aligning its national planning objectives with Vision 2030, ensuring resilience and adaptability in a rapidly changing economic environment.

11:30 AM- 11:55 AM

Panel 2: Saudi Arabia’s Role as a Transformative Force in Shaping Global Progress and Economic Growth

This focused panel will bring together the most prominent figures shaping Saudi Arabia's economic and investment landscape to discuss the country’s efforts to position itself as a global financial hub. The discussion will explore strategic initiatives to drive foreign direct investment (FDI), evaluating enhanced regulatory frameworks, and how it fosters collaboration with international markets. With a focus on the non-oil sector, the panel will examine how the Kingdom is transforming its financial environment with innovation and sustainable growth in mind and leveraging global partnerships to attract investors.

11:55 AM - 12:15PM

Fireside Chat 3: Redefining Capital Markets: Navigating Change in a New Economic Landscape

Macroeconomic dynamics are increasingly shaped by factors beyond traditional economic measures. In this new era of change, investor demand is shifting towards considerations that extend beyond just financial performance. Are capital markets charting a new course? As questions about where and how to invest become more pressing, this session will explore the future of capital markets, and the significance of diversification and investment strategies, highlighting the necessity of foresight and strategic thinking.

Speakers
  • speaker
    H.E. Mohammed ElKuwaiz

    Chairman
    Capital Market Authority of Saudi Arabia

11:55 AM

Panel 3: Capital Markets 3.0: A Global CEO Perspective

Strategies for enhancing market resilience and risk management against global shocks

The role of exchanges in promoting ESG standards and sustainable finance

Market integration, collaboration and the opportunity to improve global market connectivity

The efforts to align regulatory frameworks across different markets

12:35 AM

Panel 4: From Desert to Dynamo: The Middle East's Capital Market Transformation

Exploring the future of GCC markets and their role in attracting foreign direct investment (FDI) to stimulate international demand. As global supply chain strategies are evolving and investor demand is changing collaboration between and within regional blocs can help create opportunities.

Closer collaboration on areas such as cross-listings

Competitive strengths and common values

Trends: what are investors focused on

Global headwinds and its effect on the region

Embracing sustainability in the transition to a post-oil economy

2:05PM - 2:50PM

Panel 5: Navigating Opportunities in an Evolving Landscape

Exploring the latest strategies and diversification trends shaping the industry and how technology is revolutionizing the sector. This panel will analyse shifting client preferences and behaviours, highlighting how investment banks and Asset Management firms can adapt to meet the needs of tomorrow’s investors. How can the Power of Collaboration create potential synergies between firms to enhance offerings and drive innovation in an increasingly competitive market.

Speakers
  • speaker
    Mohammed AlShammasi

    Chief Executive Officer
    Derayah Financial

  • speaker
    Naif AlMesned

    Managing Director & Chief Executive Officer
    AlJazira Capital

  • speaker
    Loai Bafaqeeh

    Head of Securities and Acting Chief Technology Officer
    SNB Capital

2:50PM - 3:25PM

Panel 6: Forging Connections in Chemicals, Energy, and Oil & Gas: Shaping a Sustainable Future

This panel will explore the latest developments in the chemicals, energy, and oil sectors, focusing on their interconnected roles in driving economic growth and sustainability. Panellists will discuss how innovation and sustainability initiatives are shaping these industries, while addressing global challenges and emerging opportunities. The session will also highlight the technological advancements that are happening in these sectors in the region as companies look to support industrial growth and ensure long-term resilience.

Speakers
  • speaker
    Youssef Salem

    Chief Executive Officer
    Abu Dhabi National Oil Company (ADNOC)

  • speaker
    Dr. Mohamed Farouk

    Chief Executive Officer
    ADES

3:25PM - 4:00PM

Panel 7: The Role of Financial Institutions in Driving Innovation and Economic Transformation in Saudi Arabia

This panel will examine how financial institutions, including banks and capital companies, are shaping Saudi Arabia’s economic transformation. Discussions will include key areas such as digital innovation, financial inclusion, and the evolving needs of customers. Panelists will share insights into meeting evolving customer needs, fostering operational excellence, and leveraging advanced technologies to reshape financial services. The conversation will explore the critical role of financial institutions in building a resilient ecosystem aligned with the Kingdom’s Vision 2030 goals.

Speakers
  • speaker
    Tony Cripps

    Managing Director & Chief Executive Officer
    Saudi Awwal Bank (SAB)

4:00PM - 4:30PM

Panel 8: Data driving Capital Markets: Monetising Insights and the Future of Data in Shaping Capital Markets

Sell-side entities, including investment banks and brokerages, generate valuable proprietary data from market analysis, trading, and client interactions, offering insights into market trends, consumer behaviour, and economic indicators. However, monetizing this data presents challenges, particularly due to regulatory constraints around data privacy and security. Firms must comply with these regulations while investing in advanced analytics infrastructure to manage large volumes of data. On the buy-side, firms leverage this data to gain competitive insights and enhance investment strategies. Meanwhile, infrastructure companies such as stock exchanges and clearinghouses also play a significant role in data monetization, using their vast transactional data to provide services like predictive analytics and risk management solutions. With the rapid advancements in AI and the increasing importance of data-driven solutions, this session will explore the future of data in capital markets. Can we envision a world where data-backed solutions become central to capital market development?

Speakers
  • speaker
    Mehdi Miri

    Chief Executive Officer
    DirectFN

  • speaker
    Katharine Furber

    Global Head of Emerging Markets Trading Product
    Bloomberg LP

4:30PM - 4:55PM

Panel 9: Shaping the Future of Real Estate and Construction: Innovation and Growth in a Transforming Economy

This panel will explore the evolving landscape of the real estate and construction sectors in Saudi Arabia and the region, focusing on how leading companies are leveraging innovation, sustainable practices, and strategic partnerships to drive growth. Panelists will discuss trends, investments, and key initiatives shaping the sector, while addressing opportunities and challenges in balancing rapid growth with sustainability and innovation. The discussion will highlight how these industries are contributing to the Kingdom’s long-term economic goals and supporting Vision 2030 by meeting the demands of a growing population and fostering economic diversification.

Speakers
  • speaker
    Fahad Alaslami

    Chief Financial Officer
    Al Akaria

  • speaker
    Eng. Samia Nina Hajjou

    Strategy Vice President
    Al Kathiri Holding

  • speaker
    Leila AlSuhaimi

    Sustainability Manager
    Retal Urban Development Company

4:55PM - 5:15PM

Fireside Chat 4: Pioneering Leadership - Driving Global Impact through Leadership, Innovation and Economic Growth

This engaging fireside chat will delve into the critical role of leadership, innovation, and economic diversification in today’s rapidly evolving global business environment. The discussion will highlight how strategic connections strengthen international relationships, advance Saudi's economic goals, and shape the future of business. The session will also examine opportunities and challenges in fostering sustainable growth and implementing effective leadership strategies in the local market.

5:15PM - 5:45PM

Panel 10: At the Crossroads of ESG: Navigating Commitments and Future Investment Strategies

ESG issues have gained significant traction in recent years, though some question whether the momentum is slowing. Investors are increasingly factoring ESG considerations into their decision-making, while companies are integrating ESG principles into their core strategies. As countries like Saudi Arabia and the UAE pursue ambitious sustainability goals (Saudi Arabia aiming for net zero by 2060 and 50% renewable energy by 2030), this panel will analyse how companies across sectors are responding to these challenges.

The discussion will explore the role of innovation in driving sustainable growth, how businesses are adapting to the evolving regulatory environment, and how they are leveraging ESG to create long-term value. With insights from leaders in energy, finance, and technology, the panel will provide a comprehensive look at the opportunities and challenges in aligning business strategies with sustainability goals, both regionally and globally.

5:45PM - 6:05PM

Fireside Chat 5: The Power of Connections: At the Intersection of Diplomacy, Economic Policy, and Global Investment Trends in Shaping the Future of Global Capital Markets

This session will delve into the intersection of diplomacy, economic policy, and global investment trends, focusing on how Saudi Arabia is strategically positioning itself as a global financial hub. Gain first-hand insights into the Kingdom’s initiatives to attract foreign direct investment (FDI) and how it is fostering international partnerships in capital markets, illustrating how these efforts align with Vision 2030 to drive economic growth and stimulate global investor interest.

The discussion will also highlight Saudi Arabia’s influence in global trade flows and cross-border investment strategies, emphasising its geographic and economic advantages in promoting deeper market integration. Additionally, the session will explore the Kingdom’s commitment to enhancing investor confidence and building a resilient financial ecosystem, reinforcing its role as a transformative force in global capital markets.

10:00AM – 10:20AM

Welcome Remarks

Speakers

Bryan Pascoe Chief Executive Officer

International Capital Market Association (ICMA)

Scott O'Malia Chief Executive Officer

International Swaps & Derivatives Association (ISDA)

Andrew Dyson Chief Executive Officer

International Securities Lending Association (ISLA)

Wael Abdullah Al-Hazzani Chief Executive Officer

Securities Clearing Center Company 'Muqassa'

10:20AM – 10:35AM

Opening Keynote Address

As 2025 looks to be the year that prospect becomes reality, our opening address will set the context for the day by sharing a unique view of the long-term vision for the Kingdom of Saudi Arabia’s capital market against the backdrop of Vision 2030.

10:35AM – 11:05AM

Building Depth & Diversification in KSA’s Capital Market

Deep and liquid secondary markets are crucial to the development of a competitive capital market both domestically and internationally. This discussion will look to explore how the derivatives, repo and securities lending markets are connected, and the role these respective instruments can play in building liquidity, thus supporting the development of a robust capital market ecosystem. Amongst other things, the importance and role of primary dealers and market makers, the need for a diverse investor base, and the role of instruments such as Exchange Traded Funds (ETFs).

Speakers

H.E. Yazeed Al-Nafjan Deputy Governor, Financial Innovation

Saudi Central Bank (SAMA)

11:05AM – 12:00PM

KSA’s Capital Market Infrastructure in Focus

The Kingdom’s capital market infrastructure has evolved significantly in recent years, through the development of market regulation, post trade reform, and the increase in local market service providers and participants. These changes have attracted an ever-increasing number of global investors and firms to operate in the local market.

Senior representatives from key stakeholder entities will cover these recent changes in detail, whilst discussing emerging developments which will need to be considered by offshore market participants looking to enter the market in 2025 and beyond.

Moderator

Andrew Dyson, Chief Executive Officer

ISLA

Speakers

Wael Abdullah Al-Hazzani, Chief Executive Officer

Securities Clearing Center Company 'Muqassa'

Mohammed Sulaiman Al-Rumaih Chief Executive Officer

Saudi Exchange

Hanan Mohammad Alshehri Chief Executive Officer

Securities Depository Center Company (Edaa)

01:00PM – 01:45PM

Primary Debt Market: Insights into Trends, Dynamics, & Future Outlook

With the Saudi capital market witnessing an increase in debt issuances in recent years, this session will deep dive into the shape and structure of the primary debt market as well as look into secondary market liquidity.

Through expert speakers, the panel will discuss the local issuer and investor base, the variety of debt instruments including sustainable bonds, the link between Islamic and conventional bond markets while also exploring the role of repo and securities lending in the secondary market, as well as the legal framework and regulations underpinning the debt market.

Moderator

Bryan Pascoe, Chief Executive Officer

ICMA

Speakers

Mohammed Sharaf, Director of Treasury

Islamic Development Bank

Muhannad Mufti, Chief of Portfolio Management

National Debt Management Center (NDMC)

01:45PM – 02:45PM

Understanding Market Activity & Current Performance

This session will explore key trends and performance across the derivatives, repo and securities lending markets, both internationally and regionally, and the outlook for 2025.

Moderator

Scott O'Malia, Chief Executive Officer

ISDA

Speakers

Sarah AlOthman, Managing Director - Head of Securities Services

Riyad Capital

Johanne Armita Vara, Managing Director

Goldman Sachs

Adnan Hussain, Managing Director, Global Head of Treasury and Securities Lending

HSBC

Gesa Johannsen, ISDA Board Member, Managing Director, Executive Platform Owner Global Collateral Platform

BNY

Esra Turk, ISDA Board Member, Co-Head of EMEA Institutional Client Group, Co-Head of LATAM Investment Bank Coverage, Co-Head of Global Emerging Market Sales

Deutsche Bank

02:45PM – 03:25PM

The Developing Legal & Regulatory Landscape

Robust legal frameworks are integral to the smooth functioning of capital markets and the instruments which operate within them. Amongst the myriad of legal considerations, the ability to net positions is paramount.

This panel discussion will discuss the scope of the recently revised netting regulation, and its impact across the individual legal frameworks that govern derivatives, repo and securities lending transactions. The panel will also explore the horizon for relevant entities, including corporate banks, asset managers, and other market participants.

Moderator

Peter Werner, Senior Counsel

ISDA

Speakers

Faris Al Amoudi, Partner

STATLaw

Karl Rogers, Head of Legal Middle East, Africa and Pakistan

Standard Chartered

03:25PM – 03:55PM

Thematic Sessions

An educational focus on the individual products and how each market operates. Topics will be covered from both a trading and operational perspective, targeting local trading professionals as well as post trade and operations functions.

03:55PM – 04:35PM

Showcase I: Derivatives

This session will focus on the latest developments in derivatives markets, especially in relation to transactions with Saudi counterparties. The session will cover:

Moderator

Peter Werner, Senior Counsel

ISDA

Speakers

Ijlal Ahmed Alvi, CEO

International Islamic Financial Market (IIFM)

Madhurima Basu, Senior Counsel, Banking & Finance

Al Tamimi & Company

Jason Pugh, Head of Financial Markets Legal for Africa and the Middle East

Standard Chartered Bank

04:35PM – 05:15PM

Showcase II: Repo

A panel of key market participants will discuss the state of the repo and collateral markets along with the latest developments in best market practices and the GMRA, the predominant master agreement for cross-border repo. The panel will also look into the implications of the new netting legislation in the Kingdom for the domestic repo market as well as recent trends both internationally and locally including: the evolving role of repo and its significance in the broader market context, advances in Islamic and green repo, as well as the role of technology and the global drive for automation.

Moderator

Deena Seoudy, Senior Director, Associate Counsel

ICMA

Alex Westphal, Senior Director, Secretary of ICMA European Repo & Collateral Council & Global Repo & Collateral Council

ICMA

Speakers

Hashim W. Al-Sharif, EVP - Head, Money Market

Saudi National Bank

Yusuf Battiwala, Partner

Norton Rose Fulbright

Cassandra Jones, Managing Director, EMEA Head of Financing Solutions Sales and Client Management

State Street

05:15PM – 05:55PM

Showcase III: Securities Lending

In this session, we will delve into the importance of securities lending to primary and secondary market liquidity within global capital markets. Through our expert speakers, we will discuss the interplay of securities lending, repo and derivatives products, current advocacy efforts in the region, as well as the benefits of securities lending to local asset holders.

Moderator

Tina Baker, Head of Legal Services

ISLA

Speakers

Ina Budh-Raja, ISLA Board Chair, ISLA Americas Board Member, EMEA Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs

BNYs

Jalal Faruki, Head of Custody & Securities Services

SNB Capital

Dean Naumowicz, Partner

Latham & Watkins

05:55PM – 06:00PM

Closing Remarks: Key Takeaways & Looking Ahead

A reflection on the day’s highlights and key discussion points, including perspectives on the ongoing development roadmap and longer-term priorities for the Associations in the region.