Procyclicality and Margin Practices

Tuesday, March 12, 2024
Online

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Procyclicality, margin practices and the liquidity preparedness of market participants have been priorities for regulators and industry participants since the COVID market shock. Following the publication of new regulatory proposals at the end of 2023, this virtual event will consider the issues that need to be solved and potential ways forward.

 

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

 

This is an ISDA Virtual Conference:

  • Event will be live on March 12, 2024 from 9:00 AM – 11:50 AM EST  |  Timezone Converter
  • Miss part of the event or aren’t able to watch live? The recording will be available to registrants until April 12, 2024

 

Educational Credits

2 CPE Credit Hours Available

2 CPD Credit Hours Available (England and Wales)

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Tuesday, March 12, 2024

Print Agenda Procyclicality and Margin Practices for

9:00 AM Introduction and Welcoming Remarks

9:10 AM Keynote Address

9:25 AM The Industry View on Procyclicality

The panel will discuss regulatory proposals following the report on margin practices, as well as the risk appetite for procyclicality, anti-procyclicality tools, variation margin collection practices, margin simulators and transparency.

10:05 AM Keynote Address

10:25 AM Break

10:35 AM What Can be Done for Market Participant Preparedness?

The panel will cover what market participants can do to anticipate margin and collateral calls on cleared and non-cleared derivatives, which could be large and frequent during times of market stress. It will discuss the importance of readiness for these events based on lessons learned from recent episodes, including the March 2020 dash for cash, the Russian-initiated energy crisis and the UK gilt crisis.

11:15 AM Impact on the ISDA SIMM

This session will describe the steps ISDA has taken to ensure the ISDA Standard Initial Margin Model remains in line with regulatory requirements to limit the procyclicality of margin while reflecting market stress in an appropriate time frame. The discussion will cover:

  • Recent enhancements to the ISDA SIMMTM governance framework
  • The current annual calibration and off-cycle calibration procedure
  • The transition to semiannual calibration

11:55 AM Conference Concludes

Agenda is subject to change.

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Intermediate

The course level is intermediate. Some knowledge of derivatives 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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