ISDA Conferences

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

Credit Derivatives Operations Training Course

6 CPD credit hours available (England & Wales)

November 25, 2008
London

PROGRAM AGENDA

8:15 AM	Registration and Coffee
8:45 AM	Welcoming Remarks *Julian Day, Head of Trading Infrastructure, ISDA*
9:00 AM	Credit Derivatives Operational Landscape An overview of the developments in credit derivatives from an operational point of view focusing on regulatory developments and requirements, as well as the evolution in automation. *Martin Winter, Director – Credit Derivative Operations, Barclays Capital*
9:30 AM	Responsibilities and Organization of an Operations Department Discussion of how various firms organize their credit derivatives operations department, including how they assign job functions and how they approach different products. *Julian Day, Head of Trading Infrastructure, ISDA*
9:50 AM	Credit Derivatives Legal Architecture Introduction to ISDA documentation structure with a review of the Master Agreement. The session will focus on the 2003 ISDA Credit Derivative Definitions and the May 2003 Supplement, examining in detail the provisions relating to credit events, notices, settlement, guarantees and novation, and the Settlement Matrix architecture. *David Wakeling, Senior Associate, Allen & Overy LLP*
11:00 AM	Morning Break
11:20 AM	Settlement of a Credit Event • Evolution and current status of the settlement mechanic • Considerations for settlement following credit events *Matthew Flett, Executive Director & Senior Counsel, Goldman Sachs* James Marchese, Executive Director, European Head of Credit Derivatives Middle Offices, Goldman Sachs
12:20 AM	Risk Management and Mitigation Discussion on operational risk, credit risk and credit risk mitigation techniques, including collateral arrangements. This session will also review the different types of collateral. *Richard Metcalfe, Global Head of Policy, Senior Regulatory Advisor, ISDA*
1:00 PM	Luncheon
2:15 PM	Trade Capture to Confirmations A step-by-step review of a sample deal ticket including a review of terms, a discussion of the financial implications of deal ticket errors, transferring the deal ticket information onto the confirmation and issuing the confirmation. There will also be a discussion on novation documentation and best practices. Products covered will include: • Single name CDS • Index trades • CDS on ABS • Bespoke tranche trades and related hedges Nicola Barron, Hybrids Documentation Manager, JP Morgan Chase Bank, N.A *Dean Hedges, Documentation and Trade Support Manager, BNP Paribas*
4:00 PM	Afternoon Break
4.15 PM	Automation of Credit Derivatives Processing Discussion on the FpML® framework and the current status of automation of credit derivatives. Speaker to be announced
5:00 PM	Course 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 6AD. Phone: +44 20 3088 3550.

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