Whilst the first phase implementation deadlines for Initial Margin ("IM") and Variation Margin ("VM") requirements in the United States and Europe may have passed, the derivatives industry still faces at least three additional annual bilateral margining negotiations phases.

Most of the large derivatives players still have to negotiate new IM documentation for the first time; and those previously affected must repeat the exercise with each new set of affected counterparties.

Documentation development is also not yet complete.

If you will be affected by one of the next implementation phases, then there is no better time to concentrate on IM documentation, project structuring, opinion requirements and the impending commercial consequences.

In addition, the clearing access to central counterparties is still developing and requirements on indirect clearing for exchange traded derivatives and OTC derivatives will open new segregation options for buy-side clients. Is existing documentation ready for a smooth transition into a segregated indirect clearing?

We also see new developments in other asset areas and would like to build on the momentum of the recent launch of our fellow Partner Edmund Parker’s book “Credit Derivatives: Understanding and Working with the 2014 ISDA Credit Derivatives Definitions” to discuss the future of credit derivatives.

Our cross-border derivatives team from New York, London and Frankfurt is very pleased to launch the third edition of our OTC-Derivatives Seminar and to invite you to join a discussion together with our guest speaker from the German Investment Funds Association BVI of these exciting developments in an environment driven by innovation.

The seminar will be moderated by our partner Dr. Patrick Scholl.

Topics to be addressed include:

  • IM and VM implementation in review. What can we learn from the most recent re-documentation efforts for upcoming projects?
  • The buy-side perspective. What are the current areas of concern for the buy-side? Presented by Felix Ertl, BVI.
  • IM documentation in the focus. What are the key provisions of the ISDA phase 1 documentation and how should phase 2, 3 and 4 counterparties prepare for negotiations with their counterparties?
  • Collateral provider and collateral taker opinions. What are the topics to focus on?
  • Indirect clearing. How to document segregated indirect clearing arrangements with clients and indirect clients. Can existing clearing documents be used as a basis?
  • Update on MiFID II/MiFIR and impact on OTC derivatives. What are the key topics to be considered with respect to the January 3, 2018 implementation deadline?
  • Credit derivatives and product developments. The history and future of credit derivatives, deal contingent swaps, secured swaps, credit intermediations and upcoming interest in synthetic risk transfers.

Please note that the event will be held in English.

Date
Thursday, June 1, 2017

Registration
2:15 p.m.

Seminar
2:30 p.m. – 6:00 p.m. Coffee break included

We would appreciate your RSVP by May 24, 2017. Participation is free of charge.

For further information and registration please contact Kathrin Strassl, T +49 69 7941 2991.

Location
Mayer Brown LLP
Tower 185
Friedrich-Ebert-Anlage 35-37
60327 Frankfurt am Main
Germany