Understanding the ISDA Master Agreements

Including the Buy-side Perspective

Wednesday, September 25, 2019
London

Member $850 U.S.

Non-Member $975 U.S.

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Wednesday, September 25, 2019

Print Agenda Understanding the ISDA Master Agreements for

8:15 AM Registration and Continental Breakfast

8:45 AM Introduction and Welcoming Remarks Ciarán McGonagle

Ciarán McGonagle, Assistant General Counsel, ISDA

9:00 AM The 2002 ISDA Master Agreement Dean Naumowicz, Richard Tredgett, Allan Yip

  • Section-by-section Analysis of the 2002 ISDA Master Agreement
  • Discussion of Key Differences between the 2002 ISDA Master Agreement and the 1992 ISDA Master Agreement
  • Measures of Damages and Close-out Methodologies
  • Events of Default and Termination Events
  • Set-off Provision
  • Interest Rate Provisions
  • Tax Provisions (including FATCA)
  • Close-out Amount Protocol
  • Netting Opinions
  • Illegality/Force Majeure Protocol

The speakers will also draw out lessons for buy-side users of the Master Agreement and firms dealing with them.

Dean Naumowicz, Partner, Latham & Watkins LLP
Richard Tredgett, Partner, Allen & Overy LLP
Allan Yip, Partner, Simmons & Simmons LLP

10:30 AM Morning Break

11:00 AM The 2002 ISDA Master Agreement (continued)

12:30 PM Luncheon

1:30 PM Negotiating the Schedule to the 2002 ISDA Master Agreement Matthew Dening, Luke Maier, Rhian Roberts

This session will focus on key issues that firms typically negotiate in their Schedule to the 2002 Agreement. Frequently negotiated Schedule provisions will be discussed:

  • Automatic Early Termination
  • Specified Entities
  • Specified Transactions
  • Cross Default
  • Threshold Amounts
  • Additional Termination Events
  • Additional Representations
  • Specific Provisions for Investment Managers
  • Specific Provisions for Hedge Funds
Matthew Dening, Partner, Baker & McKenzie LLP
Luke Maier, Senior Legal Counsel, CQS
Rhian Roberts, Counsel, Linklaters LLP

3:15 PM Afternoon Break

3:45 PM Close-outs under the ISDA Master Agreement Jason Brooks

This session will cover the operation of the Close-out provisions of the ISDA Master Agreement (1992 and 2002 versions) from the point of view of what to look out for when deciding whether and/or when to Close-out, issues related to Close-out such as the giving of notices under the ISDA Master Agreement and practical considerations drawing upon market examples.

Jason Brooks, Partner, CMS

4:30 PM ISDA Netting Opinions Annabel Akintomide

In this session, the speaker will provide an introduction to the netting opinions that ISDA publishes in relation to the ISDA Master Agreement and consider the key issues that they address.

Annabel Akintomide, Counsel, ISDA

5:00 PM Conference Concludes

Agenda is subject to change.

Register Now for Understanding the ISDA Master Agreements
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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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Annabel Akintomide

Counsel

ISDA

ISDAconferences

Jason Brooks

Partner

CMS

Matthew Dening

Partner

Baker & McKenzie LLP

Luke Maier

Senior Legal Counsel

CQS

Ciarán McGonagle

Assistant General Counsel

ISDA

ISDAConferences

Dean Naumowicz

Partner

Latham & Watkins LLP

Rhian Roberts

Counsel

Linklaters LLP

LinklatersLLP

Richard Tredgett

Partner

Allen & Overy LLP

allenovery

Allan Yip

Partner

Simmons & Simmons LLP

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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

Receive a special discount of 20% for one person to attend all 3 Back to Basics courses – the Fundamentals of Derivatives, Understanding the ISDA Master Agreements and Understanding Variation Margin and the 2016 ISDA Variation Margin Credit Support Documents courses taking place on September 24, 25 & 26 in London. To receive this discount, email conferences@isda.orgprior to registration. [Registrant must attend all 3 courses. Discount will be void if one or more of the registrations are cancelled]

Government Agencies and Financial Hardship Policy

Member $850 U.S.

Non-Member $975 U.S.

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Introductory

Basic knowledge of derivatives documentation is beneficial but not mandatory. Some knowledge of financial markets 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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Follow us on Twitter @isdaconferences for the latest on upcoming events. For general questions, including exhibition/sponsorship opportunities, conference topics or location suggestions contact us: conferences@isda.org | +1 212-901-6000