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Clearing in a Day New York

Current Issues in Cleared Derivatives
2 December 2015 8:00am EST
Penthouse // 28 Liberty Street // New York

Clearing in a Day New York
Wednesday, December 2, 2015 // Penthouse, 28 Liberty Street // New York, NY

Online registration for Clearing in a Day is NOW CLOSED.  Space permitting, on-site registrations will be accepted first-come, first-served. For those who did not pre-register for Clearing in a Day, a photo ID will be needed to enter the building.

 

Venue information:

28 Liberty Street

60th Floor

New York, NY 10005

 

FIA’s one-day clearing conference will bring you up-to-speed on the most recent developments in the clearing space.

Subject matter experts will cover:

  • The status of CCP regulation around the world
  • How firms are responding to increased capital requirements
  • Due diligence standards for clearing members and other market participants
  • CPMI-IOSCO PFMIs 2.0
  • CCP resolution and recovery and U.S. closeout

Cost:

Member: $400

Non-Member: $600

Government: $200

 

Sponsorship Opportunities

Visit our Sponsorship Opportunities page or contact Toni Vitale Chan, Vice President, Business Development +1.312.636.2919 or tvitalechan@fia.org for more information.

 

Agenda

Registration begins at 8:00 a.m.


8:50 Welcome


9:00 World Tour: The Status of CCP Regulation

This panel will provide delegates with the latest information on developments in the U.S. EU, Canada and Asia. The panel will discuss updates in key jurisdictions throughout the world, potential future regulations affecting clearing, and third-country recognition or exemption processes. 

Chair: 
Walt Lukken, President & Chief Executive Officer, FIA

Speakers:
Tim Gits, Senior Vice President, Head of Clearing Business Development, Eurex
Colin Lloyd, Senior Associate, Cleary Gottlieb Steen & Hamilton
Kevin McClear, Vice President, Corporate Risk, Intercontinental Exchange
Robert Wasserman, Chief Counsel, Division of Clearing & Risk, Commodity Futures Trading Commission


10:20 Break


10:45 Navigating Regulatory Capital Requirements

This panel will cover the definition of QCCP (qualifying central counterparty), the margin debate, and the capital implications for cleared derivatives including the leverage ratio and indirect clearing relationships.

Chair:
Robert Klein, Managing Director & Counsel, Citigroup

Speakers:
John Dabbs, U.S. Head of Listed Derivatives & OTC Clearing, Credit Suisse
Tracey Jordal, Executive Vice President & Attorney, PIMCO
Andrew Nash, Executive Director, Morgan Stanley
Suzanne Sprague, Managing Director, Credit Risk, Banking & Solutions, CME Group
Wendy Yun, Managing Director & Associate General Counsel, Goldman Sachs Asset Management


11:45 Demonstrating Compliance with Clearing Member Legal and Risk Requirements

What do regulators and end users expect clearing members to know about their CCPs exposures and membership obligations. What systems and best practices are emerging around how to comply and document these obligations?

Topics include:

  • Resolution Planning 

  • US Diligence standards for prudentially regulated FCMs, broker-dealers and regulated banks (e.g., to support QCCP determinations)

  • US Closeout

  • Netting Opinions

Chair:
John Williams, Partner, Milbank Tweed Hadley & McCloy

Speakers:
Bonnie Litt, Managing Director & Associate General Counsel, Goldman Sachs
Emily Louie, Director, Bank of America Merrill Lynch
Edward Mayfield, Executive Director & Assistant General Counsel, J.P. Morgan
Michael Otten, Executive Director, Legal, Nomura Securities
 


12:45 Lunch


1:45 CPMI-IOSCO PFMIs 2.0

CPMI-IOSCO are currently considering changes to the PFMI principles for CCP stress testing, governance, and margin. This session will begin with examples from the FIA Global CCP Risk Review on how current rules stack up against the PFMIs. Regulators will give delegates insight on the changes they are considering and representatives from CCPs and clearing member firms will discuss how the changes will impact their businesses.

Chair:
Robert Wasserman, Chief Counsel, Division of Clearing & Risk, Commodity Futures Trading Commission

Speakers:
Ruth Arnould, Vice President & Assistant General Counsel, Bank of America Merrill Lynch
Greg Fell, Global Head of Financial Market Infrastructure, Citigroup
Nicolas Friedman, Managing Director, Goldman Sachs
William Thum, Principal, Vanguard
David Weisbrod, Chief Executive Officer, LCH.Clearnet LLC
John Williams, Partner, Milbank Tweed Hadley & McCloy


3:30 Break


4:00 CCP Recovery and Resolution

This session will compare the various proposals for recovery and resolution in the event of a default of a clearinghouse and weigh the pluses and minuses of each. 

Chair:
Walter Pringle, Senior Vice President, Wholesale Counterparty Credit Risk, Wells Fargo Securities

Speakers:
Juan Blackwell, Head of Credit & Counterparty Risk Management, Ontario Teachers' Pension Plan
Marnie Rosenberg, Executive Director, Global Head of Clearinghouse Risk, J.P. Morgan
Jason Silverstein, Executive Director & Associate General Counsel, CME Group
Robert Steigerwald, Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago
Robert Wasserman, Chief Counsel, Division of Clearing & Risk, Commodity Futures Trading Commission


5:00 Reception


6:00 Conclude

 

Cancellations/Substitutions
Notice of cancellations must be received in writing on or before November 4, 2015 and will be subject to a $100 administrative fee. Please email Member Services for cancellations or substitutions. No refunds will be made after November 4, 2015 and all monies owed at the time of cancellation will be due immediately.  Substitutions may be made at any time without penalty.

Special Requirements
We would like to accommodate the special needs of our delegates. If you have any dietary restrictions or accessibility needs, please contact Maia Johnston. We make our best effort to fulfill all requests; therefore we ask to be notified with a minimum of two weeks advance notice.

Filming, Videotaping and Recording Policy
No portion of this event may be filmed, videotaped or otherwise recorded for posting or distribution without authorization from FIA.

Registration for this conference implies permission for FIA to use, reproduce, edit, publish and distribute any photographs or videos that the FIA or its designated photographer may take of the registrants during the event.

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