Initial Margin Implementation

Wednesday, July 3, 2019
London

Member $850 U.S.

Non-Member $975 U.S.

Register for Initial Margin Implementation

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Wednesday, July 3, 2019

Print Agenda Initial Margin Implementation for

8:15 AM Registrations and Continental Breakfast

8:45 AM Introduction and Welcoming Remarks

9:00 AM Margin Rules and Requirements for Uncleared Swaps

  • Entity scope and AANA calculations
  • Geographical and transaction scope
  • Initial Margin Requirements, including segregation requirements
  • Documentation and legal review requirements

10:00 AM ISDA IM Documentation – A Chronological Review

  • Historical analysis (1994 CSA, legacy segregated IA and 2016 Phase One CSA)
  • Document structure (Two-way posting, interaction with ISDA MA and VM CSA)
  • Differences between the Phase One CSA and Next Generation ISDA IM Documentation
  • Interaction between Reg IM and non-reg Independent Amount – why they might overlap
  • Describe three “Margin Approaches”, when each might be selected and how the outcome differs under each

11:00 AM Morning Break

11:30 AM Understanding the Next Generation of ISDA IM Documentation for Phase 4 and Phase 5 Implementation (Part 1)

  • Custodian specification, risk allocation and “Custodian Event”
  • Control Agreement as Credit Support Document
  • Collateral Access Breach ATE
  • Secured Party Rights Events elections
  • Pledgor Rights Event elections
  • Notice of Exclusive Control and Pledgor Access Notice

1:00 PM Luncheon

2:00 PM Understanding the Next Generation of ISDA IM Documentation for Phase 4 and Phase 5 Implementation (Part 2)

  • Using the Regime Table and “strictest of” rules
  • Valuation and FX Haircut Percentage
  • The General Principles

2:45 PM Understanding the Next Generation of Ancillary IM Documentation for Phase 4 and Phase 5 Implementation

  • Bank Custodian CTA/SA
  • Rationale of structure
  • Governing law assumptions
  • Recommended amendment provisions (Japanese and French)
  • Comparison with 2018 CSA/CSD
  • Euroclear and Clearstream documents (overview of scope, pledgee representative structure)

3:45 PM Afternoon Break

4:00 PM ISDA Create – IM: Leveraging Technology in Streamlining IM Negotiation

This session will provide an overview of the ISDA Create – IM platform and explain how this new technology solution can be used to streamline the negotiation of IM documents.

4:45 PM Conference Concludes

Agenda is subject to change.

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Allen & Overy LLP, One Bishops Square, London, E1 6AD. Phone +44 (0) 203 808 9700. A map to the venue can be found here. You will be required to provide photo identification in order to enter the venue. Please ensure you present this at the ground floor reception or you may be refused entry.

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Registration fee is for one person to attend the entire event. Pass may not be split between multiple attendees.

For some events, groups of three or more attendees from the same firm can receive a 20% discount on event registrations. Groups must be registered together, in advance of the event. To register your group, please email conferences@isda.org

Member $850 U.S.

Non-Member $975 U.S.

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Intermediate

Some knowledge of derivatives is assumed. No advance preparation is required.
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ISDA is an accredited provider of continuing education credits by the following organizations:

  • CLE

    ISDA has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the state of New York.

  • CPE Sponsory

    ISDA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors: 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. www.nasba.org

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