New 2021 ISDA Interest Rate Definitions

Tuesday, November 9, 2021
Online

Member US$275.00

Non-Member US$325.00

Register for New 2021 ISDA Interest Rate Definitions
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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.

 

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

 

This is an ISDA Virtual Conference:

  • Event will be live on November 9, 2021 from 8:35 AM – 1:00 PM EST  |  Timezone Converter
  • Miss part of the event or aren’t able to watch live? The recording will be available to registrants until December 9, 2021

 

Educational Credits

4 CLE Credit Hours Available (New York) Transitional and Non-Transitional

4 CPE Credit Hours Available

3.5 CPD Credit Hours Available (England and Wales)

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Tuesday, November 9, 2021

Print Agenda New 2021 ISDA Interest Rate Definitions for

8:35 AM Introduction and Welcoming Remarks

8:45 AM Structure of the 2021 ISDA Interest Rate Derivatives Definitions

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.

9:15 AM Role of the Calculation Agent and Challenging Determinations

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.

9:35 AM Days, Periods, Dates and Conventions

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.

10:05 AM Break

10:10 AM Floating Rate Options and Fallbacks

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.

11:10 AM Break

11:15 AM Cash Settlement Provisions

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.

12:00 PM Break

12:05 PM Implementation

What does use of the 2021 ISDA Definitions mean for cleared and on-venue trades? How will FpML and critical middleware be updated to facilitate their adoption? What steps should market participants be taking in preparation? What does it mean for the 2006 ISDA Definitions?

1:00 PM Conference Concludes

Agenda is subject to change.

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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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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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