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Event Registration - Fixed Income ETFs & The Modernization of The Bond Market

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Tuesday, September 29, 2020
3:30 PM - 5:00 PM Eastern Daylight Time
In this session, we will discuss the performance and behavior of fixed income ETFs during the recent period of COVID-19 induced market volatility and more broadly whether there is a liquidity mismatch and systemic risk posed by bond ETFs. We will explore the information content of bond ETF prices relative to other indicators such as end of day and intraday estimated NAVs. Finally we will discuss the arbitrage mechanism and ecosystem and whether it performed as expected during this period.

Speaker Bios:
Ananth Madhavan, PhD, Managing Director, is Global Head of Research for ETF and Index Investing at Blackrock, Inc. He is responsible for advancing thought leadership and innovation for iShares through research and analytics. Dr. Madhavan's service with the firm dates back to 2003, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was the Global Head of Trading Research and Transitions and CEO of BGI's affiliate broker. He also worked closely with the alpha and trading teams to design and implement trading strategies to capture short horizon market opportunities.

Prior to joining BGI, Dr. Madhavan was a Managing Director of Research at ITG and a member of the firm's management and executive committees. Previously, he was the Charles B. Thorton Professor of Finance at the Marshall School of Business at the University of Southern California and an Assistant Professor of Finance at the Wharton School of the University of Pennsylvania.

Dr. Madhavan earned a BA degree from the University of Delhi, MA degree from Boston University, and a PhD in economics from Cornell University.

Stephen Laipply, Managing Director, is the U.S. Head of iShares Fixed Income ETFs for BlackRock. His cross-functional team is responsible for supporting client engagement for both institutional and wealth investors, creating thought leadership on fixed income markets and fixed income ETFs, driving new product innovations, and partnering with fixed income broker/dealers. Mr. Laipply is also a member of BlackRock's Investment Strategies and Insights team and has authored and co-authored articles on fixed income markets and investing that have been published in the Journal of Portfolio Management, the Journal of Index Investing, and the Journal of Trading.

Previously, Mr. Laipply was the Head of U.S. iShares Fixed Income Strategy and was a member of BlackRock's Systematic Fixed Income Product Strategy Team. Prior to joining BlackRock in 2009, Mr. Laipply was a senior member of the Interest Rate Structuring and Strategic Solutions groups at Bank of America Merrill Lynch where he helped to develop investment and risk management solutions for institutional clients across interest rate, credit and securitized exposures.

Mr. Laipply earned a BS degree in finance from Miami University, and an MBA in finance from the Wharton School of the University of Pennsylvania.

Meeting Details will be sent out one day prior to the event.

Non-members and CFA Society Global members must create an account, or log into their Boston specific account, to register for this program.

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