Recording: The Path Forward for LIBOR Transition
Wednesday, July 15 to Friday, August 14, 2020Online
This is a pre-recorded Virtual Conference
Recording available until August 14, 2020
While recognizing the challenges posed by the coronavirus pandemic, the UK Financial Conduct Authority (FCA) has reiterated that firms cannot rely on LIBOR being published after the end of 2021. This ISDA Virtual Conference will explore the progress made in adopting alternative risk-free rates (RFRs) and the development of market infrastructure and operations to support RFR trading. The event will also set out the issues firms need to consider when transitioning legacy portfolios, and outline the upcoming milestones for transition, including the switch in central counterparty (CCP) discounting and price alignment interest (PAI).
This is a pre-recorded ISDA Virtual Conference:
- This is a recording of The Path Forward for LIBOR Transition conference that took place on July 14, 2020
- Registrants will have access to the recording until 5:00 PM EST on August 14, 2020
- After submitting your registration you will receive a confirmation email with a link to view the documents and recording
Curious as to what this event is all about?
ISDA's Head of Benchmark Reform, Ann Battle, is here to fill you in:
[embed width="560" height="315"]https://youtu.be/z2DW-OX_Umc[/embed]
TriOptima is the leading multilateral compression provider that lowers costs and mitigates risk in OTC derivatives markets, and is now part of CME Group. As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.
9:00 AM Introduction and Welcoming Remarks Scott O’Malia
9:05 AM Keynote Address Edwin Schooling Latter
A senior regulator will provide an update on the RFR transition timelineEdwin Schooling Latter, Director, Markets and Wholesale Policy, Financial Conduct Authority
9:25 AM Break
9:35 AM Progress in RFR Adoption and Upcoming Milestones Ann M. Battle, Jack Hattem, Agha Mirza, Subadra Rajappa, Philip Whitehurst
Trading volumes in derivatives linked to SOFR and SONIA experienced a big jump in the first quarter of 2020, but LIBOR continues to dominate in most currencies. This session will describe the steps taken so far to encourage liquidity in alternative RFRs, potential challenges and expected milestones between now and the end of 2021, including CCP changes in discounting and PAI for certain currencies.
Moderator: Ann M. Battle, Assistant General Counsel, Head of Benchmark Reform, ISDA
Jack Hattem, ISDA Board Member, Managing Director, Global Fixed Income, BlackRock
Agha Mirza, Managing Director, Global Head of Interest Rate Products, CME Group
Subadra Rajappa, Managing Director, Head of US Rates Strategy, Société Générale
Philip Whitehurst, Head of Service Development, Rates, LCH
10:25 AM Break
10:35 AM Interview Scott O’Malia, Tom Wipf
Hosted by: Scott O’Malia, Chief Executive Officer, ISDA
Tom Wipf, ISDA Board Member, Vice Chairman of Institutional Securities, Morgan Stanley & Chair, Alternative Reference Rates Committee
10:55 AM Solutions for Legacy LIBOR Swap Trades Rick Sandilands, J. Christopher Giancarlo, Guillaume Helie, Shaun Kennedy, Vikash Rughani
With under 18 months until the UK FCA will no longer compel or persuade banks to make LIBOR submissions, what steps are firms taking to prepare? What approaches are being taken to transition legacy exposures from LIBOR? What role can fallbacks play? What are the remaining challenges and how can they be addressed? What solutions are available to help with transition?
Moderator: Rick Sandilands, Senior Counsel, Europe, ISDA
J. Christopher Giancarlo, Senior Counsel, Willkie Farr & Gallagher LLP
Guillaume Helie, Vice President, Goldman Sachs
Shaun Kennedy, Group Treasurer, Associated British Ports
Vikash Rughani, Business Manager, triReduce, TriOptima
11:45 AM Conference Concludes
Agenda is subject to change.