QED Conference on the MiFID/MiFIR review: Data & Consolidated Tape

Moderator

Rebecca Christie

Visiting fellow, Bruegel

Rebecca Christie is a Visiting Fellow at Bruegel, the Brussels-based European affairs think tank.

She worked in financial journalism from 1999-2016, reporting for the Financial Times, Dow Jones/the Wall Street Journal and Bloomberg News. That time included 13 years in Washington, covering the U.S. Treasury, the Federal Reserve and U.S. bank regulators, as well as five years in Brussels as Bloomberg’s senior economics and politics correspondent. Since 2017 she has been an occasional contributor to outlets including the BBC, RTE Irish Broadcasting, the Irish Times and IMF Finance & Development magazine. She also served as expert advisor to the European Economic and Social Committee’s working group on corporate taxation.

She served as the lead author on “Safeguarding the Euro: The Inside Story of the ESM in Times of Crisis,” the official history of the European Stability Mechanism. She is a graduate of Duke University and holds a master’s degree in public policy from the LBJ School of Public Affairs at the University of Texas at Austin.



Speakers

Vincent Dessard

Senior Regulatory Policy Advisor, EFAMA

Vincent Dessard is a senior regulatory policy advisor at EFAMA. He is in charge of capital markets, capital requirements related files, from MiFID pre-trade transparency questions to post-trade settlement implementation, and is a member of the ECB Harmonisation Steering Group and ANNA-DSB Technology Advisory Committee. Before joining EFAMA in 2011, Vincent spent 6 years in BNP Paribas Investment Partners (previously Fortis Investments - FIM) initially set up its capital markets legislative unit, developing and negotiating its contractual standards rules. He started his career at Euroclear SA where he held different positions e.g. in collateral management. Vincent is a company lawyer, member of the Belgian Institute for In-House Lawyers. Vincent has a master's in law from the Université Catholique de Louvain.



Elena Febrel

Economist, Ministry of Finance of Spain

Elena Febrel is State Economist at the Spanish Treasury where she is involved in reporting on cross-border payment Systems Enhancements and the digital euro proposal by the ECB.

She has been previously seconded in DGFISMA in Unit E2 (April 2018 - 2020) -Financial Systems & Crisis Management - National Financial Systems, following up issues related to financial sector developments in the EU Member States. Countries assigned: Greece (4th and final review of the Greek financial assistance programme); Malta, Denmark, and the UK in the context of the European Semester.

Ms Febrel provided horizontal knowledge on fintech developments, sustainable finance, and banking governance to improve cross-country consistency of policy guidelines.



Philippe Guillot​

Deputy Secrétaire General, in charge of Markets Directorate, Autorité des Marchés Financiers

Mr. Guillot took the responsibility for the Markets Directorate at the AMF in March 2012. The Markets Directorate oversees markets and monitors market infrastructure and stakeholders. Since joining the AMF, Mr. Guillot has played a leading role in the market microstructure debate. He is an active contributor to various international working groups.

Mr. Guillot began his career in finance in 1987 at DKL James Capel (now HSBC), where he held various positions. In 1991 he joined Enskilda Securities as a market maker, first in Paris, then in London. In 1998 he moved to Crédit Agricole Cheuvreux in Paris, taking over as head of Facilitation, before being made Group Trading director in 2006, in Paris and then London.

Mr. Guillot holds a degree in private law from Paris XI University and is a keen cyclist who has twice completed the Tour du Mont Blanc and Paris-Brest-Paris rides in the same year.



Alexandra Hachmeister

Managing Director Market Data and Services, Deutsche Börse Group

Alexandra Hachmeister took over responsibility for Deutsche Börse Group’s Market Data & Services business in October 2019. Market Data & Services is among the premier providers of proprietary financial information, offering real-time and historical market data as well as real-time analytics.

From 2016 to 2019, Mrs Hachmeister led the Group Regulatory Strategy area as Chief Regulatory Officer. In this role, she drove the development, implementation, and communication of the Group’s global regulatory strategy and positioning.

Alexandra Hachmeister joined Deutsche Börse Group in 1999. Since then she excelled in various positions and departments including Market Design Functionality, Systems Business Development, and Boards & Committees, including managing the Group’s Corporate Office prior to becoming Head of Group Regulatory Strategy.

She is a member of the Group of Economic Advisors to the European Securities and Markets Authority (ESMA).

Alexandra Hachmeister holds a Ph.D. degree in market microstructure from the European Business School. She is a frequent guest-lecturer at Frankfurt Goethe University, Basel University, and Stockholm University on market structure and regulation.



Tilman Lueder

Head of Securities Markets, European Commission

Tilman Lüder holds a doctorate in law from the University of Tübingen.

Before joining the European Commission in 1999, Mr Lueder was an associate in Cleary Gottlieb Steen and Hamilton LLP. He worked on European and German antitrust and merger control issues.

His first job in the Commission was that of a case manager dealing with antitrust and state aid cases in the area of post and telecommunications in the Directorate-General for Competition.

In 2002, he became the spokesperson to Commissioner Mario Monti, responsible for Competition, a position he successfully held until being appointed, in 2005, Head of the Copyright Unit of Directorate General for the Internal Market (DG MARKT).

He pursued his career to become Head of the Asset Management Unit (2011-2015) in DG MARKT, later the Directorate General for Financial Stability, Financial Services, and the Capital Markets Union (DG FISMA).

As of September 2015, Tilman heads the Securities Markets Unit in DG FISMA.



Richard Metcalfe

Head of Regulatory Affairs, World Federation of Exchanges

Richard Metcalfe is Head of Regulatory Affairs at the World Federation of Exchanges (WFE) – the global trade association for CCPs and stock and derivatives exchanges, founded in 1961. Leading a dedicated team of specialists, he drives WFE policy and outreach on a diverse range of issues, with particular emphasis on the unique role that our ‘market infrastructure’ plays in the global financial system, creating positive externalities and stability to counter the impact of individual participants.

In practical terms, the main focus is on international regulatory standards relating to market-based finance, as set by bodies such as IOSCO and the FSB. This includes policy around substantive issues: clearing, market data, operational resilience, crypto-assets. But it also covers equivalence and international coherence in regulatory matters and the respective role of standards, legislation, and supervision.

Before taking up his WFE post in March 2018, Richard worked on a range of regulatory issues at BNY Mellon in London. He has deep and extensive earlier experience in wholesale financial services, capital markets, and policy issues, with particular emphasis on central clearing, asset management, and derivatives. In addition to working at ISDA and the IA, he has worked for SWIFT.

He lives in London and studied modern and medieval languages at Oxford University.



Guillaume Prache

Managing Director, Better Finance

Guillaume Prache is the Managing Director of BETTER FINANCE, the European Federation of Investors and Financial Services Users. He is also one of the experts representing financial services users at the European Commission (lately as a member of the High-Level Forum on the CMU), at ESMA (Securities & Markets Stakeholder Group), at EIOPA (Insurance and Reinsurance Stakeholder Group), and at the French financial regulator AMF. He has been the first chair of the ESMA Stakeholder Group, and former vice-chair of the European Commission’s FSUG (Financial Services User Group) and member of the EIOPA Pensions and EBA Banking Stakeholder Groups.

He started as a magistrate at the French Court of Auditors, and has an extended and international experience in financial matters, most recently as Chief Financial Officer of Rhône-Poulenc Rorer, Inc., a “Fortune 500” publicly-listed pharmaceutical company (today Sanofi) from 1997 to 2000, and then as Managing Director of the European affiliate of the Vanguard Group, Inc., a global leader in asset management, from 2000 to 2006.

He has taught asset management for the CIWM (Certified International Wealth Manager) program and wrote two books (Politique économique contemporaine in 1989, Les Scandales de l’épargne retraite in 2008) and various articles on economics and finance.​



Laetitia Visconti

Head of EMEA Equities Market Structure, Barclays

Laetitia Visconti is Head of EMEA Equities Market Structure and Market Connectivity at Barclays.

Laetitia has more than 15 years’ experience in managing the market structure and regulatory changes with a focus on Equities Execution and Prime Services. She joined Barclays Quant Prime Services in 2010 where she managed the impact of key structural changes such as Short Selling Regulation, French and Italian transaction taxes, and MiFID II on Barclays equities executions services as well as being responsible for Barclays market access product offering.

In 2018, she became the Head of EMEA Equities Market Structure focusing on Brexit and MIFID advocacy, change management, and implementation.

She has been involved in a recent Industry workshop with regards to Equities market structure and consolidated tape. She is also the Barclays standing member at the AFME Equities board and is involved in a number of industry working groups.

Prior to joining Barclays, Laetitia led Sungard (now FIS) change management and implementation of MiFID I in Paris, before moving to London where she joined their newly formed Agency broker Sungard Global Execution Services in Europe, responsible for market access and execution services.



Janelle Veasey

Head of Real-Time Data, Refinitiv

Janelle Veasey is the Head of Real-Time Customer Proposition at Refinitiv. Janelle has over 22 years of experience in the enterprise market data management space, having previously advised top financial institutions around the globe on their data management strategies.

Janelle’s executive leadership background includes deputy global head of market data at Société Générale and co-founding 3d Innovations (3di), a global enterprise market data management practice advising financial institutions on their enterprise data solutions. At 3di, Janelle led a global team of market data consultants on numerous projects that spanned advising clients on modernizing and updating their real-time data infrastructure, restructuring and streamlining vendor relationships, creating cost and resource efficiencies, and strengthening internal relationships between the market data functions and business, finance and IT.

Today, Janelle is responsible for overseeing and managing Refinitiv’s Real-Time solutions, which spans: Content Selection, Commercial Strategy and Discovery, Data Services, and Delivery.

Janelle has a rich understanding of the market data ecosystem, including the day-to-day business challenges that users of market data face. She was also previously the chief architect of a market data user solution and has worked with financial services firms of all sizes around the globe, to help them improve the way they use market data within their business.