Download PDF, Issue 26 - Swiss Futures and Options Association

Dear Members
and Friends of SFOA
Editorial
This year’s Bürgenstock conference, our 25 th anniversary event, has received very
good feedback and I believe it can be considered to have been very successful! We had
record attendance, fine weather, interesting panels, good food and excellent entertainment
– all leading to high spirits and – combined with the exceptional surroundings
of Bürgenstock – made for a most enjoyable experience for all.
5
Of course, business took an important part – remarkable panels and a fascinating
presentation by the balloonist Bertrand Piccard were sandwiched between a most
interesting opening keynote presentation by Ken Griffin and closing crossfire featuring
four top industry leaders discussing the way forward with Patrick Young. Enjoy
the articles summarizing this year’s meeting and mark the diary for next year’s conference:
September 7–11, 2005.
Regulation and Precious Metals are two key themes of this Swiss Derivatives Review.
Given the fact that the US is the birthplace of regulation we chose to have two contributions
from that area – one from the first chairman of the CFTC on its history
and another one by the current acting chairman on its outlook. Precious metals are
gaining interest. On the one hand the product itself is becoming fashionable again in
a larger investor’s circle and on the other hand, the competition among exchanges for
the same product is heating up in this field.
This year has brought us some interesting developments: New products and markets,
more competition among markets, exploding volumes – in short, the derivatives markets
are more important than ever – and that development will no doubt continue.
For our Association it was an important year as well – 25 years you celebrate only
once! That is why we decided to publish a special book including look-backs and
anecdotes as well as crystal-ball gazing and it makes for very interesting reading.
I realize it is early for New Year’s wishes – but the next SDR will hit your desks in
the New Year only. Therefore let me wish you all the best for the New Year. May it
bring you lots of joy and happiness, success and satisfaction and above all – good
health. Happy 2005!
Sincerely yours,
Paul Meier
Chairman SFOA
SWISS DERIVATIVES REVIEW 26 – NOVEMBER 2004