New Derivatives Regulations Under
Dodd – Frank Act: Where to Begin?

Presented by The George Washington University Center for Law, Economics and Finance (C-LEAF)

REGISTRATION INFORMATION

Wednesday, October 10, 2012
7:45 am–6:45 pm
Jack Morton Auditorium
805 21st Street, NW, Washington, DC

Directions to Morton Auditorium 

Keynote Speakers:

The Honorable Gary Gensler, Chairman, Commodity Futures Trading Commission (CFTC)

Walter Lukken, President and Chief Executive Officer, Futures Industry Association

For this daylong program, workshop panels led by senior regulators, legal experts, market participants, and leading academics, present compliance responsibilities under the derivatives market reforms of Title VII.  Panelists will provide a practical analysis and understanding of the new regulations, including who is included and who is exempt. They will describe how banks and other market participants are transitioning to the new laws, and will help the audience develop a thoughtful road map for addressing derivatives-related risk management programs, swap reporting requirements, liquidity assessments and collateral management.

Seating for this event is limited.

Agenda

7:45–8:30 am: Registration and Contintental Breakfast

Welcoming Remarks: Professor Arthur Wilmarth, Director of C-LEAF, and Dean Paul Schiff Berman

8:35 – 9:10 am: Opening Keynote Address

Walter Lukken, President and Chief Executive Officer, Futures Industry Association

9:15 10:15 am: Panel

"Scope of the New Laws: Evaluating your Portfolio, Market Exposure"

A review of regulated trades - swaps, security-based swaps, foreign currency, nonfinancial derivatives, futures, and options – and the regulators who oversee the new rules and regulations. This session will provide insights from the Commodity Futures Trading Commission (CTFC), Securities and Exchange Commission (SEC), and Federal Energy Regulatory Commission (FERC) and will address the following important questions and issues:

- What are the regulatory registration requirements?

- Margin and segregation requirements for uncleared trades

- Mandatory clearing and trading

- Trade reporting and position limits

- What must be reported to the regulators?

Speakers:

  • David Meister, Director of the Division of Enforcement, CFTC
  • Matthew Daigler, Senior Special Counsel, Office of Derivatives Policy, SEC

Moderator:

Dan Danello, Attorney, Venable LLP, former Senior Counsel at Fannie Mae

10:15 – 10:30 am: Break

10:35 11:45 am: Panel

"Transitioning from Bi-lateral Market to Global Electronic Trading"

In the new world of electronic trading of derivatives, which were previously traded bi-laterally and by phone, how are trading operations going to change under Dodd Frank? What derivatives are available on an electronic platform? Who is the counterparty?

Other questions addressed:

- What are the technology requirements?  

- What is a Central Limit Order Book? 

- What is an Request For Quote?        

Speakers:

  • Christian Martin, CEO, TeraExchange
  • Sean Flanagan, VP, Asset & Liability Management and Deputy Treasurer, Freddie Mac
  • Jeffrey Jennings, Managing Director, Global Head of Listed Derivatives,Credit Suisse Securities (USA) LLC
  • John Zecca, Senior Vice President, MarketWatch, NASDAQ

Moderator:  

Jeffrey Manns, Associate Professor, GW Law

12 1:30 pm: Lunch

Keynote Address

The Honorable Gary Gensler, Chairman, CFTC

1:45 2:45 pm: Panel

Preparing for the Clearing Process

Understanding the clearing process starting with the basics and moving on the more complicated questions:

- What does it mean to clear a trade?

- How to evaluate a Futures Commission Merchant 

- How to evaluate a Central Clearinghouse

- How can margins be segregated, and what is the impact on liquidity and collateral?

- How will operational processes change at my firm ?

Speakers:

  • Umesh Gajria, Executive Director, Clearing Solutions, CME Group
  • Robert Burke, Managing Director, Global Futures and Derivative Clearing Services, Bank of America/Merrill Lynch
  • Chris Canellos, CEO, Aegean Solutions LLC
  • Andrew McGuire, Senior Vice President, SwapClear, LCH Clearnet

Moderator:

Susan Ervin, Partner, Financial Institutions Group, Davis Polk Chair, ABA's Deriviatives and Futures Law Committee 

2:50 – 4:00 pm: Panel

How to Manage Collateral Expenses and Exposure

- What are the costs of executing and clearing derivatives trades?

- What are the liquidity needs? 

- What collateral is acceptable and how can I efficiently manage my collateral levels?

Speakers:

  • Sanjay Kannambadi, CEO and Global Head, BNY Mellon Clearing - A BNY Mellon Company 
  • Joseph Palumbo, Partner, Financial Services, Ernst Young LLP 
  • Alessandro Cocco, Managing Director and Associate Counsel, J.P. Morgan

Moderator:

Geoffrey Aronow, Partner, Bingham McCutchen LLP, Lecturer in Law, GW Law

4 – 5 pm: Panel

Next Steps

Other aspects of conforming with the new laws and rules, including Board and management education, IT systems integration, and document review.

Speakers

  • Tom Callahan, CEO, NYSE LIFFE 
  • George Harrington, Global Head, Fixed Income Trading, Bloomberg, Inc.  
  • Peter Malyshev, Counsel, Financial Institutions Group, Latham & Watkins 

Moderator:

Theresa Gabaldon, Lyle T. Alverson Professor of Law; Director of Academic Programs and Administration, C-LEAF, GW Law

5 – 6 pm: Reception, Morton Auditorium Lobby

Speakers and Moderators are subject to change.

REGISTRATION INFORMATION


Spotlight Item

GW Law Portal Apply