Documentation and Legal Aspects of Initial Margin Rule Implementation

IM Requirements and ISDA Documentation

Wednesday, November 3, 2021
Online

Member US$275.00

Non-Member US$325.00

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Registration for this event will close 2 hours before the live broadcast

 

For market participants who anticipate becoming subject to initial margin (IM) exchange requirements under the uncleared margin rules in 2022 (Phase 6) and beyond, and for their advisors, this virtual conference will provide delegates with an overview from both the US and EU perspectives of the IM regulatory requirements. It will also provide delegates with an understanding of ISDA’s new IM credit support documentation and implications of various elections under the documentation in negotiations between counterparties, and introduce the documentation that can be used for IM arrangements between custodians and trading counterparties in different jurisdictions, including specific documents designed for use where the IM is held in a Euroclear or Clearstream account. The conference will also examine key points to consider when entering into custodial relationships related to compliance with initial margin requirements.

 

This is an ISDA Virtual Conference:

  • Event will be live on November 3, 2021 from 9:00 AM – 12:30 PM EDT  |  Timezone Converter
  • Miss part of the event or aren’t able to watch live? The recording will be available to registrants until December 3, 2021

 

Print Agenda Documentation and Legal Aspects of Initial Margin Rule Implementation for

9:00 AM Introduction and Welcoming Remarks

9:05 AM Initial Margin Requirements for Uncleared Swaps

A large number of counterparties are expected to come into scope of initial margin requirements for non-cleared derivatives in 2022 and beyond.  This session will provide an overview and comparison of the requirements for posting initial margin under US and EU regulations, and their implications for entities coming into scope of the requirements, including:

  • Entity scope and AANA calculations
  • Geographical and transaction scope (including cross-border application of Margin requirements)
  • Initial Margin Requirements, including segregation requirements
  • Documentation and legal review requirements

9:55 AM Break

10:05 AM Understanding the Next Generation of IM Documentation for Phase 6 Implementation and Beyond

This session will provide delegates with an understanding of how to streamline the negotiation process for IM documentation through ISDA Create, then walk through the underlying ISDA Bookstore Documentation in detail (ISDA 2018 Credit Support Annex for Initial Margin (Security Interest – New York Law) and ISDA 2018 Credit Support Deed for Initial Margin (Security Interest – English Law)). The session will focus on elections in the documentation and their implications for negotiation between counterparties, with respect to application regarding CFTC Swaps, SEC Security-Based Swaps and other over-the-counter derivatives. It will also provide an overview of the Collateral Transfer Agreement and Security Agreements that can be used for IM arrangements where the relevant custodian is located in a different jurisdiction from the trading counterparties, including specific documents designed for use where the IM is held in a Euroclear or Clearstream account.

11:00 AM Break

11:05 AM Understanding the Next Generation of IM Documentation for Phase 5 Implementation and Beyond (continued)

12:00 PM Custodial Documentation and Operational Considerations

Setting up segregated accounts with custodians and entering into necessary documentation is a key part of compliance with initial margin requirements. This session will examine some of the key points to consider from the custodian and user perspectives.

12:30 PM Conference Concludes

Agenda is subject to change.


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