Registration and Continental Breakfast

Introduction and Welcoming Remarks
Rosario Chiarenza, Counsel, ISDA

Collateral as a Credit Risk Mitigation Tool
This session will examine the nature of credit risk arising from an OTC derivatives transaction and the manner in which collateral may be used to mitigate that risk.  Different approaches to the use of collateral and associated benefits will also be explored.
Michael C. Clarke, Managing Director, Global Head of Counterparty Risk Operations and Market Infrastructure Strategy, UBS Investment Bank

Understanding the ISDA Credit Support Annex
The ISDA Credit Support Annex under New York law forms part of the Schedule of the ISDA Master Agreement.  It is designed to document security arrangements involving the use of cash or readily marketable securities to secure the risk either or both parties may have under the ISDA Master Agreement to which the ISDA Credit Support Annex relates.  This session will examine critical provisions in the ISDA Credit Support Annex under New York law, including defining credit support obligations and effecting transfers, calculations and substitutions of collateral, as well as dispute resolution.
Ellen P. Pesch, Partner, Sidley Austin LLP

Morning Break

Understanding the ISDA Credit Support Annex (continued)
Discussion on the ISDA Credit Support Annex under New York law continues, focusing on provisions relating to the holding and usage of posted collateral, events of default, standard representations and rights and remedies, as well as various elections and variables.

Luncheon

Update on Developments in International Law regarding Collateral and Derivatives
This session will identify issues that may arise when entering into cross-border transactions in OTC derivatives and delivering and receiving cross-border collateral.  An update on global developments in collateral and financial law reform will be provided with a focus on the following:

• Legal opinion and conflict of law issues relating to cross-border netting and collateral scenarios
• Law reform initiatives – EU, Middle East, Asia, Latin America
• Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary and the European Directive on Financial Collateral Arrangements
• UNIDROIT project on the Harmonized Substantive Rules for the Use of Securities Held with Intermediaries as Collateral and UNCITRAL Legislative Guide on Secured Transactions

Afternoon Break

Current Issues in Collateral Management
This session will review continuing challenges in the collateral process as well as a review of the current financial landscape and the expected and realized impact on collateral management.
Kenneth Nuttall, Vice President, JP Morgan Chase & Co

Workshop: Practical Issues in Collateral Management

Agenda is subject to change

Please click here for the Conference Registration Form.

CONFERENCE VENUE: Global Financial 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

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