Before 2008, only ETD transactions were subject to initial margin. After the 2008 financial crisis, with OTC clearing mandates, Initial Margin expanded to OTC cleared transactions. Since September 2016, Initial Margin has also been required for non-cleared OTC trades, under BCBS 317. Progressively all financial institutions (*) will be subject to Initial Margin for all derivatives transactions, and this will require banks are faced with both operational and organizational challenges as they need to comply with new IM regulations.
In this webinar we will discuss:
What are the Initial Margin rules for uncleared trades?
What changes should firms expect in terms of ISDA SIMM margin methodology?
What are the steps required to be ready on time for the compliance date?
What to expect during the preparation/implementation phase?
Webinar topic: APAC Regulatory Spotlight: BCBS-IOSCO compliance– where are we now and what are the next steps?
Date: Wednesday 20th June 2018
Time: 10am HK/Singapore, 11am Japan/Korea, 12pm Sydney. 1 hour duration
(*) applies to all institutions with an aggregate average notional amount (AANA) of non-cleared derivatives that exceeds €8 billion (or similar amounts in other currencies, depending on the applicable regulations).
Rahul Advani, Director - Public Policy, International Swaps and Derivatives Association, Inc. (ISDA)
Rahul Advani is the Director, Public Policy, at ISDA, where he focuses on regulatory advocacy for South East Asia. His main areas of focus are regulations on central counterparty clearing, margin for non-centrally cleared derivatives, and the Basel III capital framework. Mr. Advani holds a Master in Public Policy from the Lee Kuan Yew School of Public Policy in Singapore.
Nnamdi Okaeme, Director - Risk and Capital, International Swaps and Derivatives Association, Inc. (ISDA)
Nnamdi Okaeme is a Director within the Risk and Capital Group at ISDA, where he specifically focuses on managing the process for the further enhancement, testing, calibration and validation of SIMM to ensure that SIMM is compliant with the regulations and suitable for the market needs. Nnamdi completed his PhD at the University of Nottingham having graduated with a First Class MEng degree in Electrical and Electronics Engineering with Management Studies.
Sophie Manhier-Foy, Global Principal Product Manager- Margin and Clearing Risk, Calypso Technology
Sophie Marnhier Foy is the Calypso global product manager for CCPs, Clearing Risk and Margin. In her role, she designs the Calypso margin solutions to meet the various regulatory margin and clearing requirements. Currently, Sophie works very cl osely with clients implementing ISDA SIMM, to ensure that their IOSO/BCBS compliance for Sept 2018, 2019 or 2020 will be successful. Ms Marnhier-Foy is also in charge of the margin services cloud initiative, which is offering native cloud micro-services. The first service is offering ISDA SIMM margin calculation and management.
Strath Lanyon, Director of Professional Services, Asia-Pacific, Calypso Technology (moderator)
Strath Lanyon is Director of Professional Services of Asia Pacific at Calypso Technology. Mr. Lanyon has over 12 years of experience in the financial services and technology industries delivering strategic business projects for various securities trading divisions within the Macquarie Group and for Calypso Technology globally. At Calypso, Mr. Lanyon leads a regional team of over 70 consultants through the global deployments as well as upgrade projects across a variety of financial institutions including Sell-side, Buy-side, Asset Management and Central Clearing Counterparties.
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