Tue, Oct 22, 2019Event Details for Getting Ready for Initial Margin Implementation Register Now for Getting Ready for Initial Margin Implementation
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Wednesday, November 20, 2019Print Agenda Understanding Margin Regulations and the ISDA Credit Support Documents for
9:00 AM Registration and Morning Coffee
9:30 AM Introduction and Welcoming Remarks Erryan Abdul Samad
9:35 AM 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.
10:10 AM Regulatory Margin requirements for non-cleared derivatives
This session will explain the Variation Margin (VM) and Initial Margin requirements in the EU, the US and the key APAC jurisdictions implementing the international WGMR framework.
The session will look at:
- Which entities are subject to the requirements?
- Which trades are subject to the requirements?
- What the VM requirements are?
- Cross-Border implications and key similarities/differences with rules in other jurisdictions
- Impact on CSA documentation
11:10 AM Morning Break
11:30 AM Understanding the ISDA English Law Variation Margin CSA
This session will discuss the 2016 Credit Support Annex for Variation Margin. The two new forms published in 2016 allow parties to establish Variation Margin and Initial Margin arrangements that meet the requirements of new regulations on margin for uncleared swaps. This session will look at:
- 1995 CSA
- The Transferor & Transferee. How can this party change over time?
- Scope of Covered Transactions under CSA
- Credit Support Obligations: the Delivery Amount and Return Amount
- Eligible Collateral and Valuation Percentages
- Minimum Transfer Amounts
- Value of Collateral
- Adding an Independent Amount, using the Independent Amount (IA) Provisions
- Transfer Timing: when must a party deliver or return collateral – what changes can they make?
- Valuation Time and Valuation Date
- Valuation Agent
- Notification Time
- Dispute Resolution
12:45 PM Luncheon
1:45 PM Understanding the ISDA English Law Variation Margin CSA (Continued)
- Distributions and Interest Amounts
- Enforcement following Event of Default
- Credit Support Offsets
- Legally ineligible Credit Support Provision
- Ratings Ladders
- Valuation Agent
- Terms for non-netting counterparties
- Other Provisions
2:45 PM Collateral Arrangements under New York Law in comparison to English Law Arrangements
This session will discuss the 2016 Credit Support Annex for Variation Margin governed by New York law.
3:30 PM Afternoon Break
3:45 PM Understanding the ISDA Credit Support Documents for Initial Margin (IM)
This session will discuss the 2018 Credit Support Deed for IM (Security Interest – English Law) and Credit Support Annex for IM (Security Interest – New York Law).
4:45 PM Update on Developments in International Law regarding Collateral and Derivatives and ISDA Collateral Opinions
This session will provide an overview of:
- ISDA’s Collateral Opinions; and
- Tools available to assist with collateral reviews
5:30 PM Conference Concludes
Agenda is subject to change.
VenueBack to Top
To be announced
SpeakersBack to Top
PricingBack to Top
To be announced
Course LevelBack to Top
Basic knowledge of derivatives documentation is beneficial but not mandatory. Some knowledge of financial markets is assumed. No advance preparation is required.