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News: Three Webinars on Uncleared Initial Margin (Legal, Risk & Operations)

12 September 2018 | Bill Hodgson

Initial Margin for uncleared trades is an antidote to systemic risk, but the route to compliance can be expensive and complex and will stretch the capacity of lawyers, custodians and internal collateral teams to the limit. In this three-part webinar series, firms will learn about the legal, risk and operational challenges and solutions to simplify the transition.

Have a look at the agendas below, and if you are inclined to attend, please help by taking our Initial Margin Readiness Survey here too.

Webinar 1 - Legal

Wednesday, October 10, 15:00 GMT / 10:00am EST / 7:00am PST

Lawyers, Heads of Collateral and Heads of Operations need to know how to tackle the re-papering tasks ahead of them which underpin the exchange of IM.  Understanding the many documents to be negotiated, the needs of your counterparties and the options for resourcing this task are critical to achieving compliance, on time. Forecasts are that thousands of entities could be in scope for the 2019 and 2020 IM dates, meaning a large number of documents to be executed in a short space of time. ISDA issued a warning in its recent IM paper that firms should begin this process at the beginning of 2019 to avoid delays.

In our first webinar on Initial Margin, we will discuss:

  • Counterparty engagement: How to approach self-disclosure; challenges for the buyside; documentation permutations with counterparties / custodians, and where to negotiate vs. accept the ‘standard’
  • Documentation: Which agreements are mandatory and which are optional are for supporting commercial services; why you can’t use your existing documentation from VM
  • Timelines: When to start and tips on how to avoid the big rush
  • Solutions: What are the emerging industry platforms to simplify negotiation?

Panellists:

  • Darren Thomas, Managing Director, Risk and Regulatory Compliance at IHS Markit
  • Guy Antrobus, Partner at Allen & Overy
  • Peter Ten-Broeke, Senior Legal Counsel at UniCredit
  • Moderated by Karl Wyborn, Managing Director at CloudMargin

This is the first webinar in the Initial Margin Webinar Series. To see the full agenda, visit: https://cloudmargin.com/understanding-initial-margin/webinar/#scroll-top

Webinar 2 - Risk & IM Calculations

Wednesday, October 24, 15:00 GMT / 10:00am EST / 7:00am PST

People involved in the calculation and use of your IM numbers need to understand the options available. For many reasons, ISDA SIMM has been widely adopted along with a standard approach to resolving IM disputes. Learn about the critical need to have your own IM calculation implementation approved before becoming compliant. Risk managers, middle-office staff, collateral management team members and anyone involved in IM calculations should participate in this webinar.

In our second webinar on Initial Margin, we will discuss:

  • Calculation: Ways of calculating IM, an overview of ISDA SIMM and an overview of Common Risk Interchange Format (CRIF)
  • Regulation: Approval process for implementing your IM model
  • IM Operations: Calling for and settling assets to cover IM, setting up specific custody arrangements and how to handle disputes using industry tools

Panellists to be announced

This is the second webinar in the Initial Margin Webinar Series. To see the full agenda, visit: https://cloudmargin.com/understanding-initial-margin/webinar/#scroll-top

Webinar 3: Understanding the Operational aspects of Initial Margin

Wednesday, November 7, 15:00 GMT / 10:00am EST / 7:00am PST

With legal agreements and an approved IM calculator now in place, your collateral team needs to know what the new daily operational cycle looks like. What are the new tasks for your team? What will your counterparty expect from you? How do custodians fit into the picture? Before you can begin live IM operations, we will walk you through a typical project timeline to bring together all the tasks to prepare your firm for IM compliance. Project Managers, Heads of Operations, Heads of Collateral, Collateral Team members and Settlements staff should attend this webinar and make use of this vital information.

In our third webinar on Initial Margin, we will discuss:

  • What will the new daily operations cycle look like with IM?
  • How should a firm manage its IM custody account?
  • What are the procedures and tools to resolve an IM dispute? (e.g. the AcadiaSoft IMEM)
  • How will the CloudMargin platform support IM?
  • What does a typical project timeline look like to implement IM?

Panellists to be announced

This is the third webinar in the Initial Margin Webinar Series. To see the full agenda, visit: https://cloudmargin.com/understanding-initial-margin/webinar/#scroll-top


All of the above and more can be found at the CloudMargin focus page on IM here: https://cloudmargin.com/understanding-initial-margin/