Clearing & Uncleared Margins: Solutions and Optimisation

Agenda

Day 1 | September 6th

8:30 - Coffee & Registration

9:00 - Non-Cleared Margin Rules: Regulatory and Legal Framework

  • Status of implementation
  • US V EU comparison; regulatory and political
  • Legal framework (number of CSAs, ISDA protocol, etc.)
  • How approach differs by client type
  • How the rules change the game
  • A clearing approach to non-cleared

10:30 - Coffee Break

11:00 - Improving your Margining operational set-up

  • What have the main industry challenges been? 
  • Improving your operational set-up
  • Risk mitigation
  • Calculating IM & VM
  • Different methodologies
  • Efficiency 

12:30 - Lunch

13:30 - EMIR Compliance

  • Current status of EU & US clearing mandates 
  • The process of implementing & continuing your strategy
  • What can categories 3 & 4 learn from 1 & 2?
  • What do categories 1 & 2 do now?
  • Elective clearing 
  • Post-implementation

15:00 - Coffee Break

15:30 - CCPs: Everything you need to know

  • How CCPs operate
  • How to manage CCP and client risk
  • Counterparty credit and liquidity risk
  • Different models/account types
  • Risk within different margin models
  • Indirect clearing
  • The future: monopoly CCP vs. multi-CCPs, evolving CCP product offerings

17:00 - End of Day 1

 

Day 2  | Thursday 7th September 

8:30 - Coffee & Registration

09:00 - From Compliance to Optimisation

  • Building a plan: moving from tactical single solutions to a strategic encompassing solution 
  • Short term vs. long term
  • Default management & BAU porting
  • Collateral management challenges (optimisation, transformation, liquidity)
  • Managing the transition from non-cleared to cleared 
  • Clearing 100

Speaker: John Lund, Consultant, Derivatives Clearing & Collateral Management, JXL Consulting

10:30 - Coffee Break

11:00 - The costs of Clearing and the Clearing Broker relationship

  • Review of operational costs & capital requirements
  • Portfolio Modelling (Initial Margin & Collateral)
  • MVA: Funding costs of initial margin
  • How to be efficient with your clearing strategy
  • Clearing Member & CCP fee models 
  • Negotiating your clearing broker relationship

12:30 - Lunch

13:30 - Collateral Management

  • Sourcing collateral to meet demand
  • Collateral optimisation & transformation
  • Managing collateral during transition period
  • Predicting your requirements
  • Constraints in new environment
  • Industry utilities

Speaker: Matteo Rolle, Senior Director, Head of In Business Risk, Capital & Collateral, Lloyds Banking Group

15:00 - Coffee Break

15:30 - Data, System & Tech Challenges

  • Improving your data management 
  • System challenges
  • Tech/data implications of the clearing relationship
  • Fintech options
  • AI & Machine learning 

17:00 - End of Training Course

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