ISDA Conferences

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

2008 ISDA Regional Member Conference
With a Focus on the New Market Landscape

Members Only

5 CLE Credit Hours Available (Daini Tokyo Bar Association)

October 23, 2008
Four Seasons Hotel Tokyo at Chinzan-so
TOKYO

PROGRAM AGENDA

Note: Remarks of all speakers will be simultaneously transmitted in Japanese and English

8:15 AM	Registration and Continental Breakfast
9:00 AM	Introductory Remarks Robert G. Pickel, Executive Director and Chief Executive Officer, ISDA
9:30 AM	Keynote Address *Hidehiko Sogano, Associate Director – General, Financial Markets Department, Bank of Japan*
10:00 AM	The New Market Landscape: Internal Drivers for Change Throughout the market volatility that began in the summer of 2007, well-established cash market product lines have been called into question. And while derivative markets have continued to function and provide liquidity, the interconnected nature of cash and derivatives markets will no doubt lead to changes in practices across products and markets. This panel will explore how those changes will come from within firms of all types through renewed focus on risk management and product lines. Moderator: George Handjinicolaou, Deputy CEO, ISDA Mark C. Brickell, Chief Executive Officer, Blackbird Holdings, Inc. Sotaro Kato, Co-Head of Fixed Income, Nomura Securities International, Inc. Hideyuki Sago, General Manager, Structured Products Division, Mitsubishi UFJ Securities Atsushi Takahashi, General Manager of Derivative Products Division, Mizuho Corporate Bank
11:00 AM	Morning Break
11:30 AM	The New Market Landscape: External Pressures on Firms For OTC derivatives, regulators have explicitly recognized that market participants, not the regulators, must deliver improvements in response to recent market volatility. Nevertheless, increased regulatory scrutiny of the financial services business will have repercussions for derivatives activities. Greater supervisory oversight, global convergence of accounting standards, accuracy of valuations and regulatory capital levels for businesses will have profound effects. This panel will explore the implications for the derivatives business of these pressures from outside the firms. Moderator: Robert G. Pickel, Executive Director and Chief Executive Officer, ISDA Yoshinori Nakata, Director, Financial Systems and Bank Examination Department, Bank of Japan Yasushi Shiina, Director for International Banking Regulations, Financial Services Agency (FSA) Akihiro Wani, Partner, Linklaters Tomoko Morita, Policy Director and Head of the Tokyo Office, ISDA
12:30 PM	Luncheon
1:45 PM	Legal and Documentation Update Derivatives markets continue to expand into new horizons while at the same time refining practice for existing products, and this remains true even in periods of volatility. This panel will provide an update on various initiatives including the incorporation of the existing CDS auction mechanism into the Credit Derivatives Definitions and documentation efforts in equity derivatives. Key legal developments in case law and on netting and collateral will also be discussed. Moderator: Katherine Tew Darras, General Counsel, Americas, ISDA *Aaron Comerford,* Counsel, Allen & Overy Gaikokuho Kyodo Jigyo Horitsu Jimusho *Jing Gu*, Assistant General Counsel, Asia, ISDA *Keiko Takabayashi,* Managing Associate, Linklaters
3:15 PM	Afternoon Break
3:45 PM	Post-Trade and Technology Issues: An Update The market volatility of the last year has highlighted the need for robust and scalable solutions in the post-trade space. The industry has responded rigorously to these demands. This panel will provide the opportunity to expand on such industry efforts, present the commitments made to the regulators and current status, including novations, portfolio compression and the establishment of a clearing house among dealers. It will also provide an update of ISDA’s many efforts in this area with a focus on the greater use of technology, including FpML, to deliver solutions. Moderator: Julian Day, Global Head, Trading Infrastructure, ISDA *Maki Kuramochi,* Vice President, Derivatives Operations, Goldman Sachs Japan Co., Ltd. Shoko Mizuhaya, Director, Derivatives Client Services & Operations, Merrill Lynch Japan Securities Co., Ltd. Lauren Teigland-Hunt, Managing Partner, Teigland-Hunt LLP Hiroaki Usui, Vice President, Transaction Management, Global Markets Planning Dept., Nomura Securities Co., Ltd.
5:15 PM	Conference Concludes
5:15 PM	Cocktail Reception

Agenda is subject to change

Exhibitors

Markit

The Depository Trust & Clearing Corporation (DTCC)

TriOptima

Please click here for the Conference Registration Form.

CONFERENCE VENUE: Four Seasons Hotel Tokyo at Chinzan-so, 10-8, Sekiguchi 2-Chome, Bunkyo-ku,
Tokyo 112-8667 Telephone: (81) 3-3943-2222

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