Regulatory Drivers for OTC Derivatives
This session will look at the regulatory drivers for clearing of OTC derivatives and will highlight the key differences between US and European legislative proposals affecting OTC derivatives clearing.
This session will introduce the key clearing models, namely the principal-to-principal model and the futures-style (FCM) model, and provide an overview of the customer clearing documentation
Focus on Clearing Documentation
In this session, the speakers will guide delegates through the provisions of customer “cleared” ISDA Master Agreements and will introduce the key features of futures documentation. They will highlight the main operative provisions of the documents and will provide an introduction for participants who will need to review clearing documentation for themselves.
Coverage of Clearing Houses in ISDA Netting Opinions
This session will examine the treatment of clearing relationships under the ISDA netting opinions. Key issues will be highlighted with a focus on the English netting opinion and reference to the U.S. netting opinion for comparison.
OTC derivatives clearing, while bringing many benefits, tends to break up multi-product master agreements, thus losing the benefits of cross-product netting for cleared transactions. This session will consider possible means of remedying this situation.
The speakers will consider the effect that recent or ongoing rulemaking in the area of collateral could have on the arrangement.