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DEEP DIVE CENTRAL COUNTERPARTY

RECOVERY AND RESOLUTION (EU)

 

15TH NOVEMBER 2018, LONDON, UK

30TH NOVEMBER 2018, FRANKFURT, GERMANY

 

Absolutely indispensible training and an absolute must for all professionals operating in the Central Counterparty and over-the-counter derivatives industry today.
 

ABOUT THE DEEP DIVE TRAINING COURSE

This new and highly unique Central Counterparty (CCP) Recovery and Resolution Deep Dive training course will provide indispensable training on a broad range of areas governing CCP recovery and resolution frameworks.

At present this is the only training course that provides such comprehensive training in highly cutting-edge areas.

The training course will cover CCP recovery and resolution from diverse theoretical, legal, operational, and technological perspectives. Deep Dive Attendees will be able to comprehensively understand all the most relevant issues governing CCP recovery and resolution frameworks, tools, and powers. In addition, one session will be dedicated to elucidating upon the features, content, and complex and dynamic nature of CCP resolution plans.

 
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Key Benefits

• Highly comprehensive training course manual, training course materials, and training course PowerPoint presentations.

• Limited attendee numbers in order to ensure attendees fully benefit from one-to-one personalised interaction with the expert trainer.

• Deep dive training course content covers a range of areas that have not been covered elsewhere.

• Pre-course questionnaire to ascertain attendees’ key training objectives.

• Post-course follow-up to ensure attendees’ key training objectives have been met.

• End-of-day attendee review session to provide attendees with a roundtable question and answer session and face-to-face discussions.

• 50% Event Attendee Discount for any future training course booking.

 

PROGRAMME

SESSION 1: CCP DEFAULT MANAGEMENT, RESILIENCE, RECOVERY AND CONTINUITY

• CCP Loss Allocation; Resilience Incentives; CCP Default Management Waterfall Structure; Failure of CCP Default Management Plan; Moral Hazard; Relationship between Recovery and Resolution.

• CPMI-IOSCO Recovery of Financial Market Infrastructures (2014) (Recovery Planning, Recovery Tools, Specific Recovery Tools for Financial Market Infrastructures (FMIs)).

• CCP Criteria for CCP Recovery Arrangements (Transparency, Systemic Risk, Supervisory Intervention, Participant Losses, Netting and Collateral Arrangements).

• Optimal CCP Recovery Arrangements (Close-Out Netting; Non-Competitive Allocation; Variation Margin Gain Haircutting (VMGH); Liability and Risk Control; Tear-Ups).

 

SESSION 2: CCP RESOLUTION FRAMEWORKS

• European Systemic Risk Board (ESRB) Opinion on a central counterparty recovery and resolution framework (July 2017).

• ISDA’s Considerations for CCP Resolution (2016); Financial Stability Board Guidance on CCP Resolution and Resolution Planning; The Bank of England’s Approach to Resolution (2017);

• CCP Resolution Powers; Resolution Triggers; CCP Resolution Plans; Crisis Management Groups and Cooperation; Resolution Tools.

• Implementing Effective Cross-Border Cooperation and Coordination with Regulatory Authorities.

 

SESSION 3: CCP RESOLUTION PLANS

• Objectives of CCP Resolution Planning and Plans; Resolution Authority and Powers.

• CCP Resolution Plan Objectives (Address Outstanding Losses, Replenish CCP Financial Resources, Wind Down Non-Critical Functions); Clearing Member Default (Tools and Actions to Return the CCP to a Matched Book)

• CCP Resolution Plan Features (CCP Features and Risks; Default Losses; Non-Default Losses; Combined Losses; Different Scenarios; Resolution Tools).

• CCP Resolution Plan Content ((1) Key Attributes of Effective Resolution Regimes for Financial Institutions Recommendations; and (3) CCP Recovery and Resolution Regulation Requirements).

 

SESSION 4: THE CCP RECOVERY AND RESOLUTION REGULATION

• ESMA Resolution Committee, Resolution Authorities, Resolution Colleges, European Supervisory Authorities and Cooperation Agreements, Decision Making, Information Exchange.

• Recovery Planning (Recovery Plans, Assessment of Recovery Plans, Coordination Procedure).

• Resolution Planning (Plans, Coordination Procedure, Resolution Objectives, Tools, Powers).

• Resolvability (Assessment of Resolvability, Addressing or Removing Impediments to Resolvability), Early Intervention Measures (Removal of Senior Management and Board).

 
 
Presented by Rodrigo Zepeda the Co-Founder of Storm-7 Consulting and the author of “The ISDA Master Agreement 2012: A Missed Opportunity?” and “Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation”
 

TRAINING COURSE EXPERT TRAINER

 

Rodrigo Zepeda is Co-Founder and Managing Director of Storm-7 Consulting. He is an expert consultant who specialises in derivatives and banking and financial services law, regulation, and compliance. He is an expert in a very broad range of regulatory compliance frameworks such as FATCA, the OECD CRS, MiFID II, MAD 2 MAR, PSD2, CRD IV, Solvency II, OTC Derivatives, CCP Clearing, PRIIPs, BRRD, AML4, and the GDPR. He holds a LLB degree, a LLM Masters degree in International and Comparative Business Law, and has passed the New York Bar Examination. He was an Associate (ACSI) of the Chartered Institute for Securities & Investment from 2004 to 2014 and is now a Chartered Member (MCSI). He has created and delivered numerous conferences and training courses around the world such as 'FATCA for Latin American Firms' (Santo Domingo, Dominican Republic, Panama City, Panama), 'MiFID II: Regulatory, Risk, and Compliance (London), and 'Market Abuse: Operational Compliance' (London), 'AEOI (FATCA & CRS)' (Manama, Bahrain). He has also delivered numerous In-House Training Courses around the world to major international financial institutions such as The Abu Dhabi Investment Authority (MiFID II: Operational Compliance, Abu Dhabi, the United Arab Emirates), the United Nations Principles of Responsible Investment (MiFID II: Final Review, London), CAF, the Development Bank of Latin America (Swaps and Over-the-counter Derivatives, Lima, Peru), Rothschild Investment Management (UK) Limited (AEOI (FATCA & CRS), London) and Bethmann Bank AG (MAD 2 MAR, Frankfurt). He is a Reviewer for the Journal of Financial Regulation and Compliance and has also published widely in leading industry journals such as the Capco Institute's Journal of Financial Transformation, the Journal of International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications include "Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation"; "The ISDA Master Agreement 2012: A Missed Opportunity"; "The ISDA Master Agreement: The Derivatives Risk Management Tool of the 21st Century?"; "To EU, or not to EU: that is the AIFMD question"; and "The Industrialization Blueprint: Re-Engineering the Future of Banking and Financial Services?". 

 

 

Disclaimer

ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc., and Storm-7 Consulting Limited is neither sponsored by nor affiliated with the International Swaps and Derivatives Association, Inc. (ISDA), and the public is hereby informed that Storm-7 Consulting Limited holds no commercial, private, or other relationship with ISDA.