One of my few privileges is that this column has the latest of all our deadlines, which allows me to provide a very brief report on the ACT’s UK Treasurers’ Conference, held in association with EuroFinance Conferences, in Birmingham on 16-18 April. This year’s event built on last year’s success, with a large turn-out of treasurers and other finance professionals, interesting and lively speakers and an array of exhibitors to keep the treasurers on their toes during the breaks – there is a report already on ACTOnline (www.treasurers.org) and there will be coverage in the next issue of The Treasurer.
A topic to keep everyone on their toes is ‘credit derivatives’. When it was first suggested for this month’s Spotlight, my reaction was mixed – fear, mainly because it seemed such a complicated subject to a layman like me, but also curiosity, because it is an area of increasing importance for treasurers. From my conversations with some of our readers, I am not alone in my initial reaction. They are starting to have more widespread application, and corporates are beginning to investigate them seriously. We provide an insight into what credit derivatives can offer, assess where the market is, delve a little deeper into some tax and systems issues and finally we examine where treasurers can source relevant data.
The merger and acquisitions market is well known to treasurers, and is showing signs of recovery. This month’s Treasury Practice section includes a mini-feature looking at how the market is likely to develop over the coming months, as well as how tax and accounting issues are affecting M&A transactions.
This month sees the launch of the ACT Bulletin Board, which will appear at ACTOnline and in The Treasurer. The Association frequently receives requests for its members to contribute to academic and other research, industry surveys and similar projects of potential interest to treasurers. In response, we have developed the Bulletin Board to make members and non-members aware of this type of opportunity. The Bulletin Board can be accessed at www.treasurers.org/news/bulletin-board.cfm and selected items will be reproduced in the News section of The Treasurer each month (see p17 for the inaugural entry). Members should be aware that the projects posted online are not arranged or moderated by the ACT and appearance on the Bulletin Board should not be regarded as an endorsement or recommendation of the Association.
Finally, an update on the Annual Dinner – we have tables left but they are disappearing fast: over 130 tables and 1330 places have been booked. Please contact mrahman@treasurers.co.uk for a form.
MIKE HENIGAN
Managing Editor