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ISDA Symposium®

Understanding the US FCM and Other Clearing Models

An In-Depth look at their History, Uses and Issues

4.5 CLE Credit Hours Available (New York)
Transitional and Nontransitional

  4.5 CPE Credit Hours Available


Tuesday, March 28, 2017
Global Financial Conference Center
New York

PROGRAM AGENDA

 

8:30 AM

 

Registration and Continental Breakfast

 

 

 

9:00 AM

 

Introduction and Welcoming Remarks

 

 

Ann M. Battle, Assistant General Counsel, ISDA

 

 

 

9:15 AM

 

Introduction to Clearing Models

 

 

  • Principal-to-Principal Model
  • Agency Models
  • US FCM Model
  • Recent developments in clearing models

 

 

Ruth Arnould, Director, Assistant General Counsel, Bank of America Merrill Lynch

Owen Taylor, Head of Legal - Rates and FX Derivatives, LCH

 

 

 

10:00 AM

 

History of the US FCM Model

 

 

Edward Mayfield, Executive Director & Assistant General Counsel, J.P. Morgan

 

 

 

10:30 AM

 

Issues for Clients Clearing with a US FCM

 

 

  • CFTC Part 190 Regulations
  • Contemplated Amendments to CFTC Part 190 Regulations
  • Chains of multiple FCMs between a client and the CCP
  • Legal Opinions

 

 

Ann M. Battle, Assistant General Counsel, ISDA

Fabien Carruzzo, Partner, Kramer Levin Naftalis & Frankel LLP

John M. Miller, Associate, Sullivan & Cromwell LLP 

 

 

 

11:30 AM

 

Coffee Break

 

 

 

11:45 AM

 

Use of the US FCM Model for Clients Outside of the United States 

 

 

  • Close-out of client positions
  • Legal opinions

 

 

Ann M. Battle, Assistant General Counsel, ISDA

Edward Mayfield, Executive Director & Assistant General Counsel, J.P. Morgan

Rebecca Simmons, Partner, Sullivan & Cromwell LLP

 

 

 

12:45 PM

 

Capital Implications of Different Clearing Models 

 

 

Ruth Arnould, Director, Assistant General Counsel, Bank of America Merrill Lynch

Ann M. Battle, Assistant General Counsel, ISDA

Sean Downey, Executive Director, Global Clearing & Risk Policy, CME Group

 

 

 

1:30 PM

 

Symposium Concludes

 


Agenda is subject to change

- REGISTRATION FEE* -
$ 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.

 

Global Financial Conference Center, 360 Madison Avenue (entrance on 45th Street), 17th Floor, New York, NY 10017 Phone: (212) 901-6000.  Please find a map to the venue here.


 

 

 


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

at +1 212-901-6000  or e-mail conferences@isda.org


® ISDA Symposium is a registered trademark of the International Swaps and Derivatives Association, Inc.