THIS EVENT HAS TAKEN PLACE

Introduction
With Dodd-Frank regulations about to take effect how are market participants getting to grips with the many varied requirements of the Act? Discussion and debate is critical for all sides to fully understand the implications for electronic trading and SEFs; centrally cleared vs bilateral trades; risk management; and documentation. This conference, through panel debates and workshops, seeks to address these issues and to bring the various stakeholders together for the second in our annual series of CDS Conferences in New York. Join us to discuss a wide variety of issues affecting your business and help shape the future of the CDS markets.

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Sponsors:

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09.10 Electronic Trading
As the go-live date for mandatory electronic trading and trade reporting nears, this panel discusses the latest update to regulatory directives and the industry’s concerns. Also to be debated will be the market’s choice amongst the available SEFs, and the cost implications for the trading and end-user community.
Moderator:
Jeff Maron, GFI
Panel:
Grant Biggar, Creditex
Jamie Cawley, Javelin Capital Markets
Gregg Rapaport, DTCC
Jim Rucker, MarketAxess
Jon Williams, Tradeweb
 

10:15 Central Clearing & Open Access
The proposal for direct investor access to CCPs is being fiercely debated. Concerns over anonymity, fungibility and fair competition are front of mind and regulations are possibly open to interpretation. Will the costs outweigh the benefits for smaller brokers, and their customers? How will regulators and market participants ensure that access to CCPs is fair and open to all? Here we address various stakeholders’ concerns.
Moderator
Karel Engelen, ISDA
Panel includes:  
Corry Bazley, ICE Clear Credit
Samuel Ely, Capco
Jennifer Peve, CME  

11.20 Break

11.45 The Role of the Clearing Broker
What capital and operational requirements are in currently play? What exactly does the Dodd-Frank Act require for fair competition and how will the market make the transition? Will capital requirements prove to be a barrier to open competition? What lessons can be learned from the more liquid and long established futures markets? Plus, will clearing brokers be forced to charge non-financial corporates margin; how are corporates interpreting different regulatory bodies' margin requirements for swaps trades?
Moderator:
George Pratt, Claren Road
Panel includes:
Ronald Filler, Professor of Law, NYU & ex-Lehman Bros
Elaine Duff, JP Morgan
James Parascandola, MF Global
Mariam Rafi, Citi


12.50 Risk Management
How should counterparties be managing the market and counterparty risks of their portfolios and hedges, and dealing with the less liquid and more complex CDS that might not be cleared centrally? How will non-centrally cleared CDS positions be defined? How can traders directly reduce market risk? Plus, best practices for utilising collateral to mitigate counterparty risk, and how to most efficiently manage the collateral itself.
Moderator:
Jeffrey Stern, Stroock & Stroock & Lavan
Panel includes:
Kenneth Kopelman, Bingham
Kapil Khetan, NYU
Hilmar Schaumann, Fortress Investment Group


14.00 Networking Lunch

14.45 Close

A selection of delegates who attended the 1st Annual CDS Seminar July 1st 2010