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.

6 CPD Credit House Available (England and Wales)

7 CLE Credit Hours Available (New York)
Non-transitional

June 13, 2008
London

PROGRAM AGENDA

8:00 AM	Registration and Morning Coffee
8.55 AM	Introduction and Welcoming Remarks David Geen, 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 specialised sessions that follow. David Geen, 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. David Geen, General Counsel, ISDA
10:30 AM	Loan Credit Default Swap Transactions This session will summarise the documentation utilized by the industry to facilitate loan credit default swap transactions in Europe. It will cover both single-name and index documentation. David Benton, Partner, Allen & Overy LLP
11:00 AM	Morning Break
11:30 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. Deborah North, Partner, Allen & Overy LLP Kevin O’Sullivan, Associate, Allen & Overy LLP
12:30 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. Tim Black, Product Manager – RED, Markit
1:00 PM	Luncheon
2:15 PM	Confirmation Workshop Participants will participate in one workshop where the leaders will discuss the product characteristics, specific deal ticket terms and actual confirmation form for transactions using the 2003 ISDA Credit Derivatives Definitions and product specific documentation templates. Products covered will include: • Index trading • Loan Only CDS • CDS on ABS Alec L. Cohen, Executive Director, Global Head of Legal Structuring, Structured Products, CALYON Andrew Maclean, Director, Lehman Brothers
3:30 PM	Afternoon Break
3:45 PM	Workshop Continues
5:00 PM	Conference Concludes

Agenda is subject to change

ISDA has been approved by the Solicitors Regulation Authority of England and Wales as an authorised provider of Continuing Professional Development.

Please click here for the Conference Registration Form.

CONFERENCE VENUE: Allen & Overy, One Bishops Square, London E1 6AO. Phone: +44 20 3088 0000

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