Wednesday 20 September, 2017 // Clifford Chance // 10 Upper Bank Street // London // E14 5JJ
Registration: 08:30 – 09:00
Programme: 09:00 – 10:00
In late 2016, FIA embarked upon a project of updating, streamlining and creating a state-of-the art industry standard suite of clearing documentation for exchange-traded and cleared OTC derivatives. This series of FIA breakfast briefings aims to present the work that has already been done and the documents that are close to being finalised, as well as discuss the FIA legal opinions. The first session will focus on the 2017 Regulatory Patch which was published in June 2017, the second session will outline main changes and concepts in the 2017 Terms of Business and the third session will discuss various FIA legal opinions.
Who should attend? In-house regulatory and documentation lawyers at sell-side and buy-side firms, external counsel, consultants and regulators.
2017 FIA Terms of Business
FIA, in conjunction with Clifford Chance LLP, is developing a brand new set of client clearing terms for exchange-traded and cleared OTC derivatives, based on the previous 2011 version. The new suite of documentation aims to refresh, update and streamline the existing modules with the aim of producing the industry standard client clearing documentation for both exchange-traded and cleared OTC derivatives. We will also publish a User Guide which will explain the regulatory and other background to the various ToBs provisions and include optional clauses for firms to use. This briefing will focus on the structure/modularity of the 2017 ToBs and key provisions which may be of interest to firms. We will also touch on indirect clearing terms as required under MiFIR and our plans to create those as part of the Terms of Business Update Project.
Speakers: Jeremy Walter, partner at Clifford Chance and Mitja Siraj, VP Legal Europe, FIA
Please find the recording of the session here.