ISDA Conferences

International Swaps and Derivatives Association, Inc. (ISDA®)

Second Generation
Credit Derivative Documentation Conference

This conference is designed for legal, operations, marketing and trading professionals who have familiarity with credit default swaps.

7 CLE Credit Hours Available (New York)
Nontransitional

7 CPE Credit Hours Available

June 6, 2008
Global Financial Markets Conference Center
New York

PROGRAM AGENDA

8:00 AM	Registration and Continental Breakfast
8:50 AM	Introduction and Welcoming Remarks Mark New, Assistant General Counsel, ISDA
9:00 AM	Market Overview and Update on Credit Derivatives Documentation The past year has been an eventful one in credit markets. It has also been busy in terms of credit derivatives documentation. This session will provide an overview of recent developments in credit derivatives documentation and provide a context for the more specialized sessions that follow. Mark New, Assistant General Counsel, ISDA
9:30 AM	The Auction Settlement Mechanic The auction settlement mechanic has been successfully used to settle credit derivatives transactions following several credit events since it was first developed in 2005, and has evolved over that time. It will continue to play an important role in the market in future. This session will provide delegates with an introduction to the settlement mechanism. John Williams, Partner, Allen & Overy LLP
10:00 AM	Single and Index Loan Credit Default Swap Transactions This session will examine the documentation utilized by the industry to facilitate single and index loan credit default swap transactions in North America. Since the index launched in late May, volume has been significant and this product promises to be a significant contributor to global credit derivatives trading activity. Several documents facilitate the trading of this product and key provisions of each one will be addressed. Alessandro Cocco, Managing Director and Associate General Counsel, JPMorgan Chase
10:45 AM	Morning Break
11:15 AM	Credit Default Swaps on Asset-Backed Securities and Collateralized Debt Obligations This session will consider the series of documentation utilized to facilitate credit default swaps on asset-backed securities and collateralized debt obligations. While single name trading will be the focus, many of the same legal provisions apply in the ABX and CMBX indices context. Understanding the operation of key provisions will be the session’s objective. Geoffrey D. Kott, Vice President, Morgan Stanley Mark New, Assistant General Counsel, ISDA
12:00 PM	Current Issues in Standardizing Documentation for Credit Derivative Transactions This session will focus on current market efforts to enhance standardization of various credit derivative products, such as the Physical Settlement Matrix, and external initiatives such as the trade warehousing initiative, the prospects for centralized notice requirements and the implications of the Successor analysis performed by Markit. Claudia Downing, Vice President, Goldman Sachs & Co *Tara Kruse,* Managing Director, Bear Stearns & Co
1:00 PM	Luncheon
2:15 PM	Confirmation Workshop Participants will be assigned to a workshop of up to 25 people led by experienced confirmations professionals. Workshop leaders will discuss the product characteristics, specific deal ticket terms and actual confirmation form for transactions using the 2003 ISDA Credit Derivatives Definitions. Products covered will include: • Loan Only CDS and CDX • CDS on ABS and indexes • Swaptions Kahyeong Lee, Vice President, Lehman Brothers Erin Holland, Vice President and Assistant General Counsel, Goldman Sachs & Co.
3:30 PM	Afternoon Break
3:45 PM	Workshop Continues
5:00 PM	Conference Concludes

Agenda is subject to change

Please click here for the Conference Registration Form.

ISDA has been approved by The Law Society and The General Council of The Bar of England and Wales as an accredited provider of Continuing Professional Development.

CONFERENCE VENUE: Global Financial Markets Conference Center, 360 Madison Avenue (entrance on 45th Street), 17th Floor, New York, NY 10017 Phone: (212) 901-6000.

To obtain more information, please contact the ISDA conference department at +1 212-901-6000 or
e-mail CONFERENCES@ISDA.ORG