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ISDA Symposium®

Cross-Border Debate

Issues to Watch in 2017 and Beyond

4 CPD Credit Hours Available (England and Wales)

5 CLE Credit Hours Available (New York)

Transitional and Nontransitional

Thursday, June 22, 2017
One Bishops Square



  8:15 AM


Registration and Continental Breakfast




8:45 AM


Welcoming Remarks
Roger Cogan, Head, European Public Policy, ISDA




8:50 AM


Mandatory Clearing Requirements - EU v. RoW

  • What are the clearing obligation requirements in the major jurisdictions?
  • CCP recognition - EMIR Article 25 Equivalence 
  • How does failure to recognise CCPs impact Cross-Border central clearing?
  • EMIR Article 13 Equivalence

Carole Uzan, Deputy Head, Market and Intermediaries Policy Division
 Autorité des Marchés Financiers (AMF)




9:50 AM


Electronic Trading Requirements: EU v. US Regulations

  • How will derivatives be traded in EU (OTF, MTFs)? 
  • Are the trading requirements comparable with the CFTC SEF rules (RFQ, order book)?
  • Will these platforms receive mutual recognition? 
  • What is transparency framework under MiFIR? 
  • What are pre-trade deferrals and how are they comparable to the CFTC requirements: LIS v. blocks, SSTIs and RFQ and voice trading systems?

Chris Bates, Partner, Clifford Chance LLP
Roger Cogan, Head, European Public Policy, ISDA




10:30 AM


Coffee Break 




10:45 AM


Applying the US Rules Cross-border: SEC and CFTC Nexus

  • In the absence of a substituted compliance regime how should the industry comply with requirements?
  • How should the industry comply with the CFTC No Action Letter 13-69?
  • How does the SEC establish nexus for their Cross-Border rules?
  • What should a substituted compliance regime look like for each regime?
  • What about mutual recognition deference or exemptive relief?

Bella Rozenberg, Senior Counsel & Head of Regulatory and Legal Practice Group, ISDA




11:20 AM


Margin Requirements for Non-cleared Derivatives: The EU and US Regulatory Approaches and Differences

Emma Dwyer, Partner, Allen & Overy LLP
Rick Sandilands, Senior Counsel, Europe, ISDA




12:00 PM


The Trading Obligation and Third Countries

  • How will the trading obligation under MiFID II be applied to third countries?
  • How will the equivalence process work in a MiFID II world?
  • What role is there for third country trading venues in the EU?

Alison Debattista, Director – Regulatory Policy, Barclays
James Roberts, Director, European Public Policy, ISDA




12:40 PM


 Benchmarks and Commodity position limits: EU v. RoW

  • Benchmarks: how will the recognition or equivalence work under the BMR, How assess compliance with IOSCO’s principles?
  • MiFID Position Limits: the extra-territorial effects of the EU regime

Benoît Gourisse, Senior Director, European Public Policy, ISDA




1:15 PM


Symposium Concludes


Agenda is subject to change

$ 400 U.S. (member) / $ 500 U.S. (non-member)
*The invoice total must be paid in full - registration fees are net of tax and wire transfer fees are not included.

We suggest registering at least two weeks in advance to ensure your seat.

Please click here for the Conference Registration Form.



Allen & Overy LLP, One Bishops Square, London, E1 6AD. Phone +44 (0) 203 808 9700. A map to the venue can be found here.

You will be required to provide photo identification in order to enter the venue. Please ensure you present this at the ground floor reception or you may be refused entry


For more information regarding conferences or exhibition opportunities, please contact the ISDA conference department

at +1 212-901-6000  or e-mail

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