ISDA Members Only

ISDA 32nd Annual general meeting
PROGRAM AGENDA
 

Monday, May 8, 2017

2:00 PM – 5:30 PM

Early Registration and Arrival Hospitality Lounge
Refreshments and light fare

7:30 PM – 10:00 PM

ISDA Members’ Welcome Reception at Pátio da Galé
Cocktails, buffets and entertainment
sponsored by

Tuesday, May 9, 2017
GENERAL SESSIONS

 8:00 AM

Registration
Continental Breakfast
sponsored by

 9:00 AM

Opening Remarks
Scott O’Malia, Chief Executive Officer, ISDA

 9:30 AM

Keynote Address
Steven Maijoor,
Chair of the European Securities and Markets Authority (ESMA)
10:00 AM Global Derivatives Markets: A New Policy Agenda?
The financial public policy agenda across major markets is being shaped today by a number of key events (Brexit, the 2016 US elections) and trends (the drive for economic growth). As this agenda is being reset, what are the issues, opportunities and challenges for the global derivatives markets? How do policymakers, the buy-side and the sell-side view and define their key priorities? While key regulatory reform goals in the clearing, capital, margining and reporting areas are largely being achieved – what key areas of reform are being targeted for further improvement? Is the end result likely to be closer integration or greater fragmentation of markets?
11:00 AM Networking Morning Break
sponsored by CARDIGOS

11:30 AM

Business Roundtable
With all of the changes in trading, clearing and non-cleared margin, how has the market changed? What changes might still be on the horizon?

12:30 PM

Luncheon
1:45 PM Finalising Basel III: The Future of Bank Capital Reform
The Final Basel reform package has been delayed due to disagreements over the Standardised Floor. Meanwhile, Europe is pressing ahead with Capital Requirements Regulation (CRR) proposals that diverge from Basel and the US awaits the response of the new administration. With such global uncertainty as the backdrop, what is the way forward for global banking reforms?

  • How to reach consensus on the “right level” of capital? How do you balance enough capital with need to invest in economic growth and strengthen capital markets?
  • What principles should guide the approach to implementing the Basel proposals? Should structural market differences be a factor and do we foresee consistency issues in national/regional implementation?
  • Is a floor the right solution to variability in internal model results?
  • What remaining challenges are we looking to tackle for the banking sector?
2:45 PM Networking Afternoon Break
sponsored by CARDIGOS
3:15 PM 30th Anniversary of the ISDA Master Agreement: Evolution of Key Industry Documentation
A panel will discuss the evolution of standard derivatives documentation, including the factors leading to the success of standard forms, threats to the standard over its life, and future outlook. How has regulation and technology changed the landscape and what is the outlook for the next 30 years?
4:15 PM Tuesday Sessions Conclude
7:30 PM – 10:00 PM ISDA Members’ Reception at KAIS Restaurant
Cocktails, buffets and entertainment

Wednesday, May 10, 2017

GENERAL SESSIONS

  8:15 AM

Continental Breakfast
sponsored by

 9:00 AM Welcoming Remarks
Scott O’Malia,
Chief Executive Officer, ISDA
9:15 AM Chairman’s Remarks
Eric Litvack,
ISDA Chairman, Managing Director, Head of Regulatory Strategy, Société Générale Global Banking and Investor Solutions
9:45 AM Keynote Address
Svein Andresen,
Secretary General, Financial Stability Board
10:15 AM Keynote Address
J. Christopher Giancarlo, Acting Chairman, U.S. Commodity Futures Trading Commission
10:45 AM Networking Morning Break
sponsored by CARDIGOS
11:15 AM Market Innovation and Technology: What Can We Expect From the Future?
Financial reforms have driven firms to make both tactical investments in new compliance infrastructures as well as integrate broader services and infrastructures to meet the reporting, trading and clearing mandates. High capital requirements on banks are forcing firms to implement operational solutions to reduce costs, increase automation and drive greater efficiency into their derivatives business. Over the past several years, the buzz around FinTech/RegTech has grown louder and louder and it seems the answer to every RegTech question is based on a solution provided by a Distributed Ledger Technology (DLT). Is DLT the solution to our problems? This panel of market, technology and legal experts will sort the fact from fiction and guide us through the FinTech/RegTech jungle and provide their insight to what we can expect in derivatives markets.
12:15 PM Board of Directors’ Election/Financial Report
12:30 PM Luncheon
AFTERNOON SPECIALIST SESSIONS
These sessions will feature a choice of two in-depth discussions on the following specialist topics:

 1:45 PM

A. Key Legal and Documentation Developments
This session will provide an overview of the significant legal and documentation initiatives that ISDA is focused on, many of which are driven by regulatory changes. Discussion will include the following:

  • Effects of Brexit on derivatives transactions from an insolvency/collateral/choice of law/regulatory perspective
  • Impact of EU benchmark regulation on ISDA documentation
  • Developments in bank resolution related issues and protocols including Article 55 BRRD Protocol and ISDA Resolution Stay Jurisdictional Modular Protocol
  • Developments in legal infrastructure including netting and collateral legislation updates and expansion of legal opinion program

 

B. Derivative Counterparty Credit Risk: Why the New Risk Measure Could Have Such a Significant Impact
SA-CCR is the new Standardised Approach for Counterparty Credit Risk that all banks will have to implement in the near future. ISDA’s detailed proprietary study, discussed in this panel, suggests SA-CCR can produce very different results from the Current Exposure Method (CEM) it replaces. But its use is much broader than just risk capital, it also impacts the Leverage Ratio (LR), Large Exposures (LE) and CCP exposure calculations. To understand why SA-CCR matters to you, join this session which will cover:

  • Why is SA-CCR relevant to banks’ regulatory frameworks? Key to measure to LR, CVA, LE, Exposures to CCPs, potentially to Net Stable Funding Ratio (NSFR) and as a capital floor.
  • Is SA-CCR a credible alternative to internal models, can it be used as a floor and could it become more risk-sensitive without becoming too complex?
  • What is SA-CCR’s impact on bank capital, is it reasonable and aligned with the Group of Central Bank Governors and Heads of Supervision (GHOS) mandate not to further increase capital levels?
  • Global consistency and implementation: Will SA-CCR be applied consistently across all jurisdictions? What are key implementation challenges?

 2:35 PM

Networking Afternoon Break
sponsored by CARDIGOS

 3:05 PM

A. Getting Ready for MiFID

  • Finalizing the rules (Packages, Trading Obligation)
  • Can industry and regulators meet the data challenges?
  • Will trade transparency enhance or hurt liquidity?
  • Can regulators preserve a global market?

 

B. Non-Cleared Margin: The Path Forward

  • The aftermath of the Variation Margin Big Bang
  • Lessons learned from Phase 1 Initial Margin and preparation for Phase 2
  • ISDA SIMM: 2017 enhancements and recalibration

3:55 PM

A. Supranationals: Derivatives Supporting Growth in Emerging Markets
A panel of experts will discuss the role of supranational entities in derivatives, the focus on economic growth and the importance of linking capital to where it is needed.
B. The Foundations of an Efficient Derivatives Ecosystem: Standards in Data and Processing
A panel of industry experts will discuss developments and opportunities for market evolution in the following areas:

  • Where to next on product identifiers?
  • Developing a common language for business processes
  • Navigating the changing industry landscape and opportunities in the innovative era of FinTech
  • Smart Contracts: What are they and what does it mean for derivatives processing?
  • Derivative challenges in collateral management processing

 4:45 PM

Conference Concludes

Agenda is subject to change

– REGISTRATION FEE – 
$ 1300 U.S. (member)

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