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The consequences of the UK’s impending withdrawal from the EU is a hot topic which continues to reverberate through all major industries, in the UK, on the European continent as well as globally. Although uncertainty remains rife across the board, prudent institutions have recognised the importance of early engagement and the benefits to be gained from proactive discourse. The potential for market disruption is particularly acute in the financial services sector. To combat this, ISDA has penned a set of responses to certain frequently asked questions (FAQs) which continue to evolve in conjunction with developments on the political and legal horizon. Another recent paper published by ISDA addresses the thorny issue of CCP location, which has potentially serious practical and systemic implications. ISDA has also submitted a response letter to the proposed regulation about supervision of CCPs and a location policy. In this symposium, we will gather a number of experts to discuss these topics and the various corollary questions and considerations to be posed to regulators, political bodies and market participants. We will consider the implications of Brexit for derivatives as well as the impact on market participants.
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Tuesday, April 10, 2018
12:00 PM Registration and Lunch
1:15 PM Welcoming Remarks
1:20 PM Legal and Documentation Issues – Impact of Brexit on Legal Agreements
- Brexit FAQ
- A brief introduction to the European Union (Withdrawal) Bill
2:10 PM A Regulatory Perspective – How will Brexit impact the Regulatory Agenda?
This panel will discuss the likely options available to UK financial services firms wishing to access EU financial markets and how financial firms globally, and in particular in Asia, would be affected. We will also discuss the challenges that need to be overcome in order to avoid market fragmentation and reduced market liquidity. This panel will also consider whether Brexit would impact regulatory reforms that have already been put in place as a result of, for instance, the Pittsburgh G-20 commitments.
3:00 PM Implications of Clearing Location Policy
- The Aim of EMIR 2 - Why does the EU want to change CCP supervision?
- The Risk and cost of a Location Policy
- Supervisory cooperation
- The current status of discussion in Brussels – What is next?
- Implications for global market participants
3:50 PM Coffee Break
4:10 PM The European Union (Withdrawal) Bill – what does this mean for derivatives?
This session will focus on the European Union (Withdrawal) Bill and its implications for derivatives. The speakers will consider the views and issues raised in previous sessions of this Symposium and will examine key issues for the derivatives industry, particularly in the light of regulatory reforms which have been put in place in recent years.
5:00 PM Symposium Concludes
VenueBack to Top
InterContinental Sydney, 117 Macquarie Street, Sydney 2000 Australia, Phone: +61 2 9253 9000
Course LevelBack to Top
Some knowledge of derivatives documentation is assumed. No advance preparation is required.
ContactBack to Top
ISDA Symposium is a registered trademark of the International Swaps and Derivatives Association, Inc.