Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents

Thursday, November 3 to Friday, December 30, 2022
Online


Register for this pre-recorded training course and receive 20% off any listed below.
Take advantage and join live or watch the replay which will be available for 30 days after the event.
Promo Code: INTRO20

Introduction to Credit Derivatives – Recording available for purchase until December 30
Introduction to Equity Derivatives – Recording available for purchase until December 30

Understanding Core ISDA Documentation
The ISDA Master Agreement – Recording available for purchase until December 30

Negotiating Core ISDA Documentation
Schedule to the ISDA Master Agreement – Recording to be available from November 30
Variation Margin Credit Support Documents – November 30

 

This is a pre-recorded Virtual Conference

 

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Recording available until December 30, 2022

 

This is an ISDA Virtual Conference:

  • This is a recording of the Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents conference which took place on November 3, 2022
  • Registrants will have access to the recording until 5:00 PM EST on December 3, 2022
  • After submitting your registration you will receive a confirmation email with a link to view the documents and recording

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Thursday, November 3, 2022

Print Agenda Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents for

9:00 AM Introduction and Welcoming Remarks Megan O’Flynn

Megan O’Flynn, Assistant General Counsel, ISDA

9:05 AM Regulatory VM Requirements for Swaps and Security-Based Swaps Raymond A. Ramirez, Sarah Willis

This session will explain the VM requirements in the US and other key jurisdictions implementing the international WGMR framework:

  • Which entities are subject to the requirements?
  • Which trades are subject to the requirements?
  • What are the VM requirements?
  • Cross-border implications and key similarities/differences with rules in other jurisdictions
  • Impact on CSA documentation
Raymond A. Ramirez, Partner, Eversheds Sutherland
Sarah Willis, Managing Associate, Linklaters LLP

10:20 AM Break

10:25 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Eleanor Boris, Ian Cuillerier, Miki Navazio, Daniel Smith

The ISDA VM Credit Support Annex under forms part of the Schedule of the ISDA Master Agreement. It is designed to document security arrangements involving the use of collateral to secure the risk either or both parties may have under the ISDA Master Agreement to which the ISDA VM Credit Support Annex relates incompliance with applicable VM regulations. This session will examine critical provisions in the ISDA Credit Support Annex under New York law and English Law, including:

  • Key principles of the credit support arrangements
  • The posting party and the receiving party– How can this party change over time?
  • Scope of Covered Transactions under CSA
  • Credit Support Obligations: The Delivery Amount and Return Amount
  • Minimum Transfer Amounts
  • Adding an Independent Amount (IA) and using the Independent Amount provisions
  • Transfer Timing: When must a party deliver or return collateral?
  • The Valuation Agent and Dispute Resolution
  • Substitutions/Exchanges
  • Holding and use of Posted Collateral
  • Distributions and Interest Amounts
  • Events of Default
  • Rights and Remedies
  • Legally Ineligible Credit Support provisions
  • Credit Support Offsets
  • Terms for non-netting counterparties
  • Other Provisions
  • ISDA VM Protocol
Eleanor Boris, Executive Director, Morgan Stanley
Ian Cuillerier, Partner, White & Case LLP
Miki Navazio, Partner, Seward & Kissel LLP
Daniel Smith, Senior Associate, Allen & Overy LLP

11:30 AM Break

11:35 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Continued Eleanor Boris, Ian Cuillerier, Miki Navazio, Daniel Smith

Eleanor Boris, Executive Director, Morgan Stanley
Ian Cuillerier, Partner, White & Case LLP
Miki Navazio, Partner, Seward & Kissel LLP
Daniel Smith, Senior Associate, Allen & Overy LLP

12:30 PM Conference Concludes

Register Now for Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents
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Eleanor Boris

Executive Director

Morgan Stanley

MorganStanley

Ian Cuillerier

Partner

White & Case LLP

WhiteCase

Miki Navazio

Partner

Seward & Kissel LLP

sewkis

Megan O’Flynn

Assistant General Counsel

ISDA

ISDAConferences

Raymond A. Ramirez

Partner

Eversheds Sutherland

ESgloballaw

Daniel Smith

Senior Associate

Allen & Overy LLP

AllenOvery

Sarah Willis

Managing Associate

Linklaters LLP

LinklatersLLP

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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 conferences@isda.org

Member US$275.00

Non-Member US$325.00

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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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