Following a one-year deferral at the peak of the coronavirus crisis, phase six of the initial margin (IM) requirements for non-cleared derivatives will come into force in September 2022 and will capture 775 entities and more than 5,400 counterparty relationships, creating a significant compliance challenge for the industry. What steps should firms be taking to comply? This virtual event will break down what firms need to do and will highlight the important challenges and lessons learned from firms who have implemented in previous phases. The event is designed to give firms a comprehensive guide to implementation.
This is a pre-recorded Virtual Conference
Recording available until October 23, 2021
This is an ISDA Virtual Conference:
- This is a recording of the Getting to Grips With Phase 6 Initial Margin Requirements virtual conference which took place on September 23, 2021
- Registrants will have access to the recording until 5:00 PM EDT on October 23, 2021
- After submitting your registration you will receive a confirmation email with a link to view the documents and recording
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Thursday, September 23, 2021Print Agenda Getting To Grips With Phase 6 Initial Margin Requirements for
9:00 AM Introduction and Welcoming Remarks Mark New
9:05 AM Fast Forward to Compliance Mark New, Neil Patel, Tamsin Rolls
This panel will summarize the main regulatory requirements and highlight differences between rule sets that could affect implementation. The session will also set out the steps that firms need to take, including, calculating aggregate average notional amounts and identifying in-scope entities, disclosure to counterparties, as well as highlight industry tools available to help with the disclosure process.
Moderator: Mark New, Senior Counsel, Americas, ISDA
Neil Patel, Director, Trading & Derivatives Legal, BlackRock
Tamsin Rolls, Executive Director and Assistant General Counsel, J.P. Morgan
9:50 AM Calculating Margin Tara Kruse, Scott Cogswell, Joe Demetrick, Nnamdi Okaeme
When it comes to calculating IM, firms have a choice between using a regulatory standardized schedule or an approved margin model. This session will review the differences between the two approaches, describe the ISDA Standard Initial Margin Model (ISDA SIMMTM) and its features and consider the steps firms need to take to implement it, and discuss considerations for Phase 6 firms.
Moderator: Tara Kruse, Global Head, Infrastructure, Data and Non-Cleared Margin, ISDA
Scott Cogswell, Manager, Global Risk Analytics, HSBC
Joe Demetrick, Managing Director, Public Fixed Income - Derivatives, MetLife Investment Management
Nnamdi Okaeme, Senior Director, Infrastructure, Data and Non-Cleared Margin, ISDA
10:50 AM Break
11:00 AM Documentation Download Megan O’Flynn, Kate Andrews, Fabien Carruzzo, Lucinda Clayton
Firms need to ensure the necessary documentation is negotiated and put in place with each counterparty ahead of the implementation date. This session will describe the documentation and various elections firms need to make, and look at how this process can be automated through online negotiation platforms like ISDA Create.
Moderator: Megan O’Flynn, Assistant General Counsel, ISDA
Kate Andrews, Associate, Linklaters LLP
Fabien Carruzzo, Partner, Kramer Levin Naftalis & Frankel LLP
Lucinda Clayton, Head of Derivatives Advisory, NatWest Markets
11:55 AM UMR Project Implementation and Collateral Management Efficiencies Amy Caruso, Erica Becker, Nicholas Cadotte, Ted Leveroni, Craig van Eyk
This panel will share their experiences of coordinating a multi-facetted UMR project, including establishing custodial relationships for segregated accounts and how to approach onboarding including KYC, initiating a portfolio reconciliation and dispute management strategy, and how to improve collateral management processes through operational enhancements, data standardization and automation.
Moderator: Amy Caruso, Head of Collateral Initiatives, ISDA
Erica Becker, Senior Manager, EY
Nicholas Cadotte, Manager, Derivative Support, Public Sector Pension Investment Board
Ted Leveroni, Senior Principle, BNY Mellon Markets
Craig van Eyk, Director, Credit Suisse
12:40 PM Conference Concludes
SpeakersBack to Top
Manager, Derivative Support
Public Sector Pension Investment Board
Kramer Levin Naftalis & Frankel LLP
Head of Collateral Initiatives
Head of Derivatives Advisory
Manager, Global Risk Analytics
Managing Director, Public Fixed Income - Derivatives
MetLife Investment Management
Global Head, Infrastructure, Data and Non-Cleared Margin
BNY Mellon Markets
Senior Counsel, Americas
Assistant General Counsel
Senior Director, Infrastructure, Data and Non-Cleared Margin
Director, Trading & Derivatives Legal
Executive Director and Assistant General Counsel
Craig van Eyk
PricingBack to Top
Registration fee is for one person to attend the entire event. Pass may not be split between multiple attendees.
Groups of three or more attendees from the same firm can receive a 20% discount on event registrations. To register your group, please email firstname.lastname@example.org
Course LevelBack to Top
Some knowledge of derivatives is assumed. No advance preparation is required.
ContactBack to Top
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