New 2021 ISDA Interest Rate Definitions

Tuesday, November 9 to Thursday, December 9, 2021
Online

Member US$275.00

Non-Member US$325.00

Register for New 2021 ISDA Interest Rate Definitions

ISDA has published an updated and enhanced version of its landmark definitional booklet for interest rate derivatives, marking a big step in the shift to digital documentation.

 

The 2021 ISDA Interest Rate Derivatives Definitions are the first ever to be published as a natively digital definitional booklet, and are available via ISDA’s new electronic documentation platform, MyLibrary. The digital format will create significant efficiencies in how firms use and interact with the definitions, reducing complexity and the potential for error.

 

This is a pre-recorded Virtual Conference

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Recording available until December 9, 2021

 

This is an ISDA Virtual Conference:

  • This is a recording of the New 2021 ISDA Interest Rate Definitions virtual conference which took place on November 9, 2021
  • Registrants will have access to the recording until 5:00 PM EST on December 9, 2021
  • After submitting your registration you will receive a confirmation email with a link to view the documents and recording

 

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Tuesday, November 9, 2021

Print Agenda New 2021 ISDA Interest Rate Definitions for

8:35 AM Introduction and Welcoming Remarks Rick Sandilands

Rick Sandilands, Senior Counsel, Europe, ISDA

8:45 AM Structure of the 2021 ISDA Interest Rate Derivatives Definitions Rick Sandilands, Deepak Sitlani

An overview of the structure of the definitional booklet, matrices and ancillary documentation, including an introduction to ISDA’s MyLibrary, the web-based user interface on which the definitional booklet has been published.

Rick Sandilands, Senior Counsel, Europe, ISDA
Deepak Sitlani, Partner, Linklaters LLP

9:15 AM Role of the Calculation Agent and Challenging Determinations Simon Firth, Rick Sandilands

An explanation of how the Calculation Agent’s standard has changed under the 2021 Definitions and what it means in practice. This session will look at provisions in the 2021 Definitions which empower the parties to request more information or challenge determinations made by the Calculation Agent in relation to the Cash Settlement and Generic Fallback provisions.

Simon Firth, Partner, Linklaters LLP
Rick Sandilands, Senior Counsel, Europe, ISDA

9:35 AM Days, Periods, Dates and Conventions Jonathan Martin, Tamsin Rolls

This session will look at the new concept of an ‘Unscheduled Holiday’ in relation to payment dates and period end dates as well as the new day count fractions that have been introduced into the 2021 Definitions and how Business Days are dealt with compared with the 2006 Definitions.

Jonathan Martin, Senior Director, Market Infrastructure and Technology, ISDA
Tamsin Rolls, Executive Director and Assistant General Counsel, J.P. Morgan

10:05 AM Break

10:10 AM Floating Rate Options and Fallbacks Michelle Hurd, Rick Sandilands, Deepak Sitlani

The way in which benchmarks are represented in the 2021 Definitions has changed from narrative to tabular format. This session will look at the reasons behind the changes and what it means in practice. The 2021 Definitions builds on the work recently undertaken for the 2006 ISDA Definitions in relation to fallbacks by introducing temporary non-publication, index cessation and administrator/benchmark events in order to improve contractual robustness. This session looks at the standardized and bespoke fallbacks included in the 2021 Definitions and acknowledgement regarding changes to benchmarks.

Michelle Hurd, Director, Market Infrastructure and Technology, ISDA
Rick Sandilands, Senior Counsel, Europe, ISDA
Deepak Sitlani, Partner, Linklaters LLP

11:10 AM Break

11:15 AM Cash Settlement Provisions Suzanna Brunton, Jonathan Martin

The Cash Settlement provisions in the 2006 Definitions have not kept pace with the evolution of the markets. The 2021 Definitions seek to provide more robust and less discretionary methodologies that better reflect modern practices.

Suzanna Brunton, Managing Associate, Linklaters LLP
Jonathan Martin, Senior Director, Market Infrastructure and Technology, ISDA

12:00 PM Break

12:05 PM Where’s the Fire? Imperatives to Adopt the 2021 Definitions Ilene K. Froom, Rick Sandilands

Moving off the 2006 ISDA Definitions requires the investment of very significant time and effort. What are the drivers for buy side and sell side users in adopting the 2021 Definitions?

Ilene K. Froom, Partner, Reed Smith LLP
Rick Sandilands, Senior Counsel, Europe, ISDA

12:30 PM Implementation Guy Gurden, Jonathan Martin, Fateen Sharaby, Jonathan Somekh

What happened on the 4th October 2021 implementation date and subsequently for cleared and on-venue trades, FpML and critical middleware in terms of adoption? What steps should market participants be taking if they have not already adopted the 2021 Definitions? What does it mean for the 2006 ISDA Definitions?

Guy Gurden, Managing Director, Head of MarkitServ Rates Product Management, OSTTRA
Jonathan Martin, Senior Director, Market Infrastructure and Technology, ISDA
Fateen Sharaby, Executive Director, Clearing Solutions, CME Group
Jonathan Somekh, Senior Product Manager, Rates, LCH

1:10 PM Conference Concludes

Register Now for New 2021 ISDA Interest Rate Definitions
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Suzanna Brunton

Managing Associate

Linklaters LLP

LinklatersLLP

Simon Firth

Partner

Linklaters LLP

LinklatersLLP

Ilene K. Froom

Partner

Reed Smith LLP

reedsmithllp

Guy Gurden

Managing Director, Head of MarkitServ Rates Product Management

OSTTRA

Osttra_

Michelle Hurd

Director, Market Infrastructure and Technology

ISDA

ISDAConferences

Jonathan Martin

Senior Director, Market Infrastructure and Technology

ISDA

ISDAconferences

Tamsin Rolls

Executive Director and Assistant General Counsel

J.P. Morgan

jpmorgan

Rick Sandilands

Senior Counsel, Europe

ISDA

ISDAConferences

Fateen Sharaby

Executive Director, Clearing Solutions

CME Group

CMEGroup

Deepak Sitlani

Partner

Linklaters LLP

LinklatersLLP

Jonathan Somekh

Senior Product Manager, Rates

LCH

LCH_Clearing

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Introductory

Basic knowledge of derivatives is beneficial but not mandatory. Some knowledge of financial markets is assumed. No advance preparation is required.

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