| 9:00 - 9:10 a.m. | Opening Remarks Frank Dornseifer, BAI e.V. |
| 9:10 - 9:50 a.m. | Keynote: „Saxony-Anhalt Goes Crypto – How Saxony-Anhalt Is Building the Bridge Between Sovereign Issuance and the Digital Future of Capital Markets“ - A German State’s First Crypto-Securities: Detailed Insights into the Background, Drivers, and Challenges of the First Digital State Issuance Under the eWpG
- Technology Meets Tradition: How Blockchain/DLT Infrastructures Are Transforming the Settlement and Administration of Government Financial Instruments.
- More Than a Flash in the Pan: What strategic implications DLT infrastructure holds for Saxony-Anhalt’s capital market strategy.
Markus Krause, Head of the Capital Markets Division, Ministry of Finance of the State of Saxony-Anhalt |
| 9:50 - 10:15 a.m. | „Crypto Exposure in a Private Equity Fund – Indirect Investments via ETPs and Custody Considerations“ - Objective: Establishing a small tactical crypto allocation for diversification purposes within a closed-ended AIF
- Implementation Approaches: ETPs versus direct token allocations; advantages and disadvantages within AIF structures
- Role of the Depositary, Custodian Bank and Crypto Custodian: Asset segregation, safekeeping arrangements and liability considerations
- Portfolio- and Liquidity Management: Valuation, pricing feeds and stress-testing methodologies
- AML- and Travel Rule Framework: Compliance requirements for crypto asset transfers
- KAGB/AIFMD Considerations: Investment restrictions, depositary obligations, delegation and outsourcing requirements relating to crypto assets
- MiCAR Interface: Product and service regulations applicable to crypto assets and crypto ETPs
Dr. Kati Beckmann, Partner, Greenberg Traurig and Carsten Kociok, Partner, Greenberg Traurig |
| 10:15 - 10:40 a.m. | „DeFi Tokens – Accessing DeFi Strategies through Digital Securities: How investors can gain exposure to various DeFi strategies through crypto securities issued under Germany’s Electronic Securities Act (eWpG)“ - What is Decentralised Finance (DeFi) and what new investment opportunities does this market offer?
- Why has direct access to DeFi so far been hampered by technical and legal hurdles for many investors?
- How can DeFi strategies be translated into a familiar and legally structured investment product?
- How to make DeFi investable by issuing crypto-securities in accordance with the eWpG.
Dr. Robert Oppenheim, Partner, Osborne Clarke
Marcel Uhlmann, CIO and Managing Director, Tradevest Markets |
| 10:40 - 11:10 a.m. | Coffee break |
| 11:10 - 11:55 a.m. | Panel Discussion: „A Comparative Analysis of German, Luxembourg and U.S. Crypto Regulation“ Dr. Dr. Johannes Blassl, Partner, HEUKING
Friederike Burckhardt, Head of Digital Assets, LBBW
Dr. Miguel Vaz, Managing Director, Hauck Aufhäuser Digital Custody
Moderation: Frank Dornseifer, Managing Director, BAI e.V. |
| 11:55 a.m. - 12:20 p.m. | „Current Developments Affecting Depositaries and Fund Management Companies: DLT Pilot Regime, Market Integration Package and eWpG“ - New perspectives for depositaries: DLT notarial services and DLT central account management
- Securities settlement and finality in times of DLT
- The enhanced DLT Pilot under the Market Integration Package
Dr. Alexander Glos, Partner, Freshfields
Dr. Theresa Kreft-Tönningsen, Principal Associate, Freshfields |
| 12:20 - 12:45 p.m. | |
| 12:45 - 1:45 p.m. | Lunch |
| 1:45 - 2:25 p.m. | „Lessons learnt from working with DLT-based securities“ - An overview of KfW’s DLT activities
- Insights into KfW’s third DLT bond
- Analysis of the current state of maturity of the DLT-based financial market & next steps
Tim Meirer, Senior Manager Capital Market Innovation, KfW Bankengruppe |
| 2:25 - 2:45 p.m. | Expert Insight Michael F. Spitz, Gründer und Co-CEO, 360x |
| 2:45 - 3:10 p.m. | „AI Agents in Fund Operations & Finance – how investor onboarding, asset screening and KYC/AML/tax compliance are undergoing fundamental change“ Ivo Schmiedt, Founder and CEO, Vestlane |
| 3:10 - 3:30 p.m. | Coffee break |
| 3:30 - 4:10 p.m. | Keynote: „Beyond the NAV: What Fund Managers Really Communicate in Their Quarterly Reports“ - How AI Can Be Used to Automatically Analyze the Qualitative Sections of GP Reports
- The Additional Predictive Signals Hidden in Fund Managers’ Language
- What This Means for Investors’ Valuation, Monitoring, and Investment Decisions
Prof. Dr. Reiner Braun, Holder of the Chair in Entrepreneurial Finance, Technische Universität München (TUM) |
| 4:10 - 4:55 p.m. | Panel Discussion: „Between automation and judgement: AI as a new co-pilot for investors and fund managers“ Dr. Lina Boecker, Partner, Osborne Clarke |
| Starting 4:55 p.m. | Closing Remarks & Get-Together |
