Clearstream Webinar | Guest Speakers Announced | Bilateral Margin Rules in September 2016
Tuesday 1st December 2015
UK 14:30; US Eastern 09:30; CET 15:30; Dubai 17:30
Since 2008, regulatory changes to prevent another crisis from occurring have been incrementally rolled out. The US is ahead of Europe with mandated clearing and electronic trade execution already in effect and with trade reporting a requirement in both jurisdictions. From September 2016, Europe will see the introduction of mandatory margining for non-cleared OTC derivatives. Only the largest dealers are in the first wave of firms impacted by the new requirements, but the scope broadens year on year out to 2019 to encompass a wide range of firms active in the OTC derivatives markets.
This free on-line webinar will cover topics including:
- Agreeing a legal basis to move assets via a settlement provider
- Ensuring two way margin exchange happens as close to simultaneous as possible
- Using an agent who to hold assets in escrow
- Preventing re-hypothecation to comply with the regulations
- Having flexibility in the range of assets to pledge against an exposure
- Achieving effective segregation of assets
- Receiving timely and accurate reporting on the margining and settlement process
Speakers will include:
Richard Glen is Head of Global Securities Financing (GSF) Sales and Broker-Dealer Relations department at Clearstream Banking. Based in London, he leads the day-to-day triparty sales and relationship management and client implementation team (repo, securities lending and collateral management) responsible for clients based in the UK, Ireland and Americas.
Bill's career has included a wide variety of businesses including cash registers, children’s games, RADAR, oil drilling and for the past 20 years the capital markets, especially OTC derivatives. In the capital markets he initially worked on developing software to process OTC derivatives at Merrill Lynch, in the days when paper trade tickets were still the norm. Subsequently he has worked with major banks to improve their OTC processing capabilities, including with Barclays Capital as Head of OTC (ISDA) Projects, LCH.Clearnet as Head of Product Development for the SwapClear service and at DTCC to design, build and deploy the Trade Information Warehouse for Credit Default Swaps. He originally qualified at Greenwich University in Computing, and is a contributor to three books on OTC products and capital markets and is the owner of The OTC Space Ltd.
David Field is an acknowledged expert in clearing and collateral management with over 20 years financial services consulting experience. He has advised clients across buy-side, sell-side, CCPs and custodians on strategy, operating model and technology change. David is a regular contributor at clearing and collateral forums. In 2014 he founded The Field Effect, a boutique consultancy specialising in target operating model, roadmap and change programme design, with deep experience clearing and collateral. Previously David was a main board member of Rule Financial, now GFT.
Silvia Devulder is a derivatives and repos lawyer with a broad international experience. Slovakian born, Silvia obtained her Master´s Degree in law at University Paris 2 Assas and King´s College London. Before joining Swedbank Stockholm office in 2011, she had worked as in-house counsel within several large financial institutions in London and Paris. Silvia has a detailed knowledge of the ISDA/CSA, GMRA documentation and market practice in this area. In her current role, Silvia is involved in implementation of EMIR, leads drafting/updating templates and internal policies, contributes to business development projects. Silvia has actively participated to the various ISDA working groups throughout the years, with particular focus on actions in emerging markets, arbitration and most recently the EMIR related initiatives. Silvia has been providing legal training on ISDA documentation and related regulatory issues both internally and externally. Silvia has volunteered in projects promoting the gender equality in the financial industry, plays the piano and is interested in languages.
The webinar will be recorded and made available in a video, audio and transcript form in the week following the webinar. The webinar is free and intended to provide education and insight to attendees, and in return you may (or may not) be contacted by Clearstream as a result of attending.
Register your interest in joining the webinar by completing the form on this page.