Agenda

Day 1 | Wednesday 1st November

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

Giuseppe Insalaco, Senior Advisor, Markets Policy Division, Policy & Risk Directorate, Central Bank of Ireland

10:30 - Coffee Break

11:00 - Clearing Members & the Margining operational set-up

  • Explaining the clearing member
    • What does a clearing member do? 
    • Why does it have clients? 
  • How do clearing members run their business?
  • Account set-up
  • Role of exchanges
  • Improving your operational set-up
  • Calculating IM & VM
  • Different methodologies & efficiency 

Alexander Jacobs, Head of OTC Clearing, ABN AMRO

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: Managing Risk & Future-Proofing

  • Equivalence and CCP choice
  • Voluntary clearing versus mandatory clearing - what's happening and what is driving it
  • How CCPs are different / how are CCPs competing
  • Initial Margin models
  • Cross margining vs Portfolio Margining
  • Using a Clearing broker Vs membership Vs a sponsored access model
    CCP developments in near future (products / models / structures)
  • Impact of UMR on clearing - more volumes / more products / futurization?
  • Default Management - Risk waterfalls & CCP interaction

Phil Hermon, Senior Director, OTC Products, CME GROUP

17:00 - End of Day 1

Day 2  | Thursday 2nd November 

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%

John Lund, Consultant, Derivatives & 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

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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