Source: Wall Street and Technology
URL: http://www.wallstreetandtech.com/blog/archives/2006/12/otc_derivatives.html
Global Electronic Markets (GEM) has integrated the trade comparison component of its FpML Mediator software platform with T-Zero, the service provider in credit derivative processing.
T-Zero has integrated the FpML Mediator trade comparison component with its existing service that is being utilized by numerous buy-side and dealer clients.
This will enable T-Zero’s buy-side clients to perform trading activities such as assignments and early terminations on credit default swap (CDS) trades with the assurance that they are in synch with the trade state maintained by the DTCC’s Deriv/SERV derivative trade confirmation service. For example, when a T-Zero client wishes to perform a transaction on an existing CDS, T-Zero retrieves the deal’s details from DTCC and uses GEM’s FpML Mediator component to compare the client’s version of the trade with the information retrieved from DTCC.
Monday, December 18, 2006
DTCC Partners With CLS
Source:Wall Street and Technology
URL: http://www.wallstreetandtech.com/blog/archives/2006/12/otc_derivatives.html
Automation of the OTC derivatives market continues to be a priority for the industry.The Depository Trust & Clearing Corp. (DTCC) announced its selection of CLS Bank International (CLS) to provide central settlement of payments for over-the-counter (OTC) derivatives contracts housed in DTCC’s DerivSERV Trade Information Warehouse.
The partnership between the two industry-owned organizations will create an integrated payment-processing infrastructure for the handling of OTC derivatives contracts, stated the release.
The solution will initially support credit derivatives, but is designed to be extended to other OTC derivatives products including rates, equities and commodities — the timing of which will be worked out in collaboration with TradeWarehouse customers.
CLS provides global settlement services in 15 currencies and is an integral part of the foreign exchange market, settling 270,000 instructions equivalent to approximately $2.9 trillion each day.
In other news, DTCC said it continues to expand its automated trade-matching platform for OTC derivatives with a range of new equity derivatives products in early 2007. New global products will include: Asia ex-Japan (AEJ) share and index options, AEJ share and index swaps, AEJ share and index variance swaps, and Japanese index variance swaps.
DTCC will now have up to 21 global OTC equity derivatives products supported by its automated matching and confirmation platform.
URL: http://www.wallstreetandtech.com/blog/archives/2006/12/otc_derivatives.html
Automation of the OTC derivatives market continues to be a priority for the industry.The Depository Trust & Clearing Corp. (DTCC) announced its selection of CLS Bank International (CLS) to provide central settlement of payments for over-the-counter (OTC) derivatives contracts housed in DTCC’s DerivSERV Trade Information Warehouse.
The partnership between the two industry-owned organizations will create an integrated payment-processing infrastructure for the handling of OTC derivatives contracts, stated the release.
The solution will initially support credit derivatives, but is designed to be extended to other OTC derivatives products including rates, equities and commodities — the timing of which will be worked out in collaboration with TradeWarehouse customers.
CLS provides global settlement services in 15 currencies and is an integral part of the foreign exchange market, settling 270,000 instructions equivalent to approximately $2.9 trillion each day.
In other news, DTCC said it continues to expand its automated trade-matching platform for OTC derivatives with a range of new equity derivatives products in early 2007. New global products will include: Asia ex-Japan (AEJ) share and index options, AEJ share and index swaps, AEJ share and index variance swaps, and Japanese index variance swaps.
DTCC will now have up to 21 global OTC equity derivatives products supported by its automated matching and confirmation platform.
Friday, November 10, 2006
Webinar on 11/14/2006 - The Next Big Thing in Derivatives Processing:Getting to T+0 By Automating Transactional Messaging and Exception Management
From: Wall Street & Technology
Topic: The Next Big Thing in Derivatives Processing:Getting to T+0
By Automating Transactional Messaging and Exception Management
Date: Tuesday, November 14, 2006 Time: 9:00 AM PT / 12:00 PM ET
Duration: One hour
URL for registartion: https://www.cmpnetseminars.com/BTG/default.asp?K=4TW&Q=548
The rapid adoption of credit derivatives by traditional asset managers and hedge funds has led to the explosive growth in transaction volumes and the creation of innovative investment and hedging strategies. While the major dealers have substantially cleaned up the backlog in unconfirmed trades in credit instruments, there are still concerns about handling the more exotic structures.
As regulators pressure the industry to eliminate paper and costly manual intervention, the automated processing of derivatives and other trade confirmations has become a top priority for buy-side and sell-side firms looking to minimize operational risk and avoid costly errors. But which way do firms turn?
This Webcast will discuss how buy-and-sell side firms can improve the STP capabilities associated with processing high-volume OTC derivatives trades, utilizing many of the post-trade technologies that have recently emerged in the marketplace, including confirmation matching systems, new electronic message formats and transactional communications technologies for document generation.
In this Webcast, you can learn about:
- STP strategies for improving OTC derivatives processing
- New techniques for creating customized documents that support exotic structures with new
electronic messaging formats such as FpML through fax, email and Web channels as well as
third-party matching services
- Minimizing operational risk by streamlining workflow in high-volume, transactional
businesses like OTC derivatives
- Speeding up exception management to support the manual review of complex exotic trades
- Industry initiatives for reducing operational risk on the buy-and sell-sides.
Topic: The Next Big Thing in Derivatives Processing:Getting to T+0
By Automating Transactional Messaging and Exception Management
Date: Tuesday, November 14, 2006 Time: 9:00 AM PT / 12:00 PM ET
Duration: One hour
URL for registartion: https://www.cmpnetseminars.com/BTG/default.asp?K=4TW&Q=548
The rapid adoption of credit derivatives by traditional asset managers and hedge funds has led to the explosive growth in transaction volumes and the creation of innovative investment and hedging strategies. While the major dealers have substantially cleaned up the backlog in unconfirmed trades in credit instruments, there are still concerns about handling the more exotic structures.
As regulators pressure the industry to eliminate paper and costly manual intervention, the automated processing of derivatives and other trade confirmations has become a top priority for buy-side and sell-side firms looking to minimize operational risk and avoid costly errors. But which way do firms turn?
This Webcast will discuss how buy-and-sell side firms can improve the STP capabilities associated with processing high-volume OTC derivatives trades, utilizing many of the post-trade technologies that have recently emerged in the marketplace, including confirmation matching systems, new electronic message formats and transactional communications technologies for document generation.
In this Webcast, you can learn about:
- STP strategies for improving OTC derivatives processing
- New techniques for creating customized documents that support exotic structures with new
electronic messaging formats such as FpML through fax, email and Web channels as well as
third-party matching services
- Minimizing operational risk by streamlining workflow in high-volume, transactional
businesses like OTC derivatives
- Speeding up exception management to support the manual review of complex exotic trades
- Industry initiatives for reducing operational risk on the buy-and sell-sides.
Wednesday, October 11, 2006
World Regulators Focus on Derivatives
Location: London
Author: Ellen J. Silverman
Date: Wednesday, October 4, 2006
Article Source - RiskCenter.com
--------------------------------------------------------------------------------
Officials from Britain's Financial Services Authority, the Federal Reserve Bank of New York and SEC want to tighten up derivatives markets, where explosive growth in recent times has fueled fears of a potential financial disaster. They warn that countries must join forces to help contain risks posed by the rapid global expansion of derivatives.
In the Financial Times on Thursday, Timothy Geithner, president of the New York Fed, Callum McCarthy, chairman of the FSA, and Annette Nazareth, a commissioner at the SEC wrote in a joint letter, "Often it takes a crisis to generate the will and energy needed to solve a problem. "Here, the industry deserves credit for acting in advance of a crisis." Progress has been made during the past year, but "there is still work to do" regarding regulation of derivatives, the letter added. "In a more integrated global market, we will increasingly find ourselves compelled to pursue borderless solutions." It continued: "Weaknesses remain and, apart from operational risk, the market faces formidable challenges in measuring and managing financial risks."
Derivatives are no longer the domain of specialized hedge-funds, but are also used by traditional investors such as investment banks. The letter came after leading global investment banks, institutional investors and international regulators met in New York on Wednesday to discuss industry initiatives to improve back-office systems for derivatives trading. The move followed concerns last year that back-office backlogs were so serious they could create systemic problems if not addressed, according to the Financial Times. At the meeting, regulators said a process of co-operation between US and European regulators last year had cut credit derivatives backlogs. "In the case of derivatives, a local or national solution would have been insufficient to protect domestic financial markets from the risks posed by market practices," the letter continued.
The officials meanwhile warned that the industry still needed to tackle serious backlogs in equity derivatives. The market for credit derivatives was worth about $26 trillion in the first half of 2006, according data from industry body the International Swaps and Derivatives Association. Credit derivatives accounted for just $631 billion worth of trade during the first half of 2001.
Meanwhile, hedge funds are also facing calls for closer regulation. Concern reached the US House of Representatives last week, as lawmakers debated a bill that would require a White House body to devise recommendations on hedge fund disclosure requirements. There are thousands of hedge funds worldwide, which combined, control assets totaling more than one trillion dollars, according to recent US government and industry estimates. Because the sector is largely unregulated in the United States, the US government does not know how many hedge funds exist or how much cash they control. Some experts believe hedge fund trades account for 30 percent of all US stock trading volume.
--------------------------------------------------------------------------------
Author: Ellen J. Silverman
Date: Wednesday, October 4, 2006
Article Source - RiskCenter.com
--------------------------------------------------------------------------------
Officials from Britain's Financial Services Authority, the Federal Reserve Bank of New York and SEC want to tighten up derivatives markets, where explosive growth in recent times has fueled fears of a potential financial disaster. They warn that countries must join forces to help contain risks posed by the rapid global expansion of derivatives.
In the Financial Times on Thursday, Timothy Geithner, president of the New York Fed, Callum McCarthy, chairman of the FSA, and Annette Nazareth, a commissioner at the SEC wrote in a joint letter, "Often it takes a crisis to generate the will and energy needed to solve a problem. "Here, the industry deserves credit for acting in advance of a crisis." Progress has been made during the past year, but "there is still work to do" regarding regulation of derivatives, the letter added. "In a more integrated global market, we will increasingly find ourselves compelled to pursue borderless solutions." It continued: "Weaknesses remain and, apart from operational risk, the market faces formidable challenges in measuring and managing financial risks."
Derivatives are no longer the domain of specialized hedge-funds, but are also used by traditional investors such as investment banks. The letter came after leading global investment banks, institutional investors and international regulators met in New York on Wednesday to discuss industry initiatives to improve back-office systems for derivatives trading. The move followed concerns last year that back-office backlogs were so serious they could create systemic problems if not addressed, according to the Financial Times. At the meeting, regulators said a process of co-operation between US and European regulators last year had cut credit derivatives backlogs. "In the case of derivatives, a local or national solution would have been insufficient to protect domestic financial markets from the risks posed by market practices," the letter continued.
The officials meanwhile warned that the industry still needed to tackle serious backlogs in equity derivatives. The market for credit derivatives was worth about $26 trillion in the first half of 2006, according data from industry body the International Swaps and Derivatives Association. Credit derivatives accounted for just $631 billion worth of trade during the first half of 2001.
Meanwhile, hedge funds are also facing calls for closer regulation. Concern reached the US House of Representatives last week, as lawmakers debated a bill that would require a White House body to devise recommendations on hedge fund disclosure requirements. There are thousands of hedge funds worldwide, which combined, control assets totaling more than one trillion dollars, according to recent US government and industry estimates. Because the sector is largely unregulated in the United States, the US government does not know how many hedge funds exist or how much cash they control. Some experts believe hedge fund trades account for 30 percent of all US stock trading volume.
--------------------------------------------------------------------------------
Tuesday, October 10, 2006
News: Swift's securities efforts boosted by DTCC link
Source URL - http://www.finextra.com/fullstory.asp?id=16002
Swift's efforts to extend its franchise further into the securities market have received a boost with the creation of a link between the SwiftNet IP messaging platform and the Deriv/Serv over-the-counter (OTC) derivatives matching and confirmation service from New York's Depository Trust and Clearing Corporation (DTCC).
The link between the two services allows Swiftnet users to deliver real-time, transaction data to DTCC Deriv/SERV for matching and confirmation without having to create a separate, direct computer-to-computer connection to DTCC.
DTCC Deriv/Serv provides automated matching and confirmation for a wide range of credit, interest rate and equity derivatives products. Its global customer base includes over 640 dealers and buy-side firms in more than 25 countries worldwide.
Peter Axilrod, managing director, DTCC business development, comments: "Our collaboration with Swift expands the options available to buy- and sell-side firms to transmit real-time data to Deriv/Serv."
The hook-up to Deriv/Serv provides a welcome boost to the Brussels-based co-operative as it seeks to regain traction in the securities business. Speaking at a press conference at Sibos in Sydney yesterday, Swift CEO Lenny Schrank admitted that the company still has more to do to win over investment managers in particular.
To that end, Swift is mid-way through a thoroughgoing re-structuring of its securities industry division under head James Donovan (pictured). Six new divisions are being created to cater directly for the needs of distinct industry segments, including custodians, broker dealers, market infrastructures and investment managers, funds and treasury. The Society is also looking to hire professionals from the industry to take critical leadership roles in the new structure.
The need for improved automation in the securities business, and the OTC markets in particular, has been emphasised by the results of a recent JPMorgan poll of 20 asset managers and institutional investors who cited data management and systems infrastructure issues as the biggest challenges they faced. Three quarters of respondents said that their current infrastructure provided limited and insufficient support for the pricing and processing of derivatives.
Kirit Bhatia, global head of securities collateral management at JPMorgan, notes: "While asset managers and institutional investors are increasingly using OTC derivatives for a variety of investment reasons, many are not equipped for the associated processing challenges. The snapshot provided by these poll results supports what we are hearing through our ongoing dialogue with our wider client base and the market."
Swift's efforts to extend its franchise further into the securities market have received a boost with the creation of a link between the SwiftNet IP messaging platform and the Deriv/Serv over-the-counter (OTC) derivatives matching and confirmation service from New York's Depository Trust and Clearing Corporation (DTCC).
The link between the two services allows Swiftnet users to deliver real-time, transaction data to DTCC Deriv/SERV for matching and confirmation without having to create a separate, direct computer-to-computer connection to DTCC.
DTCC Deriv/Serv provides automated matching and confirmation for a wide range of credit, interest rate and equity derivatives products. Its global customer base includes over 640 dealers and buy-side firms in more than 25 countries worldwide.
Peter Axilrod, managing director, DTCC business development, comments: "Our collaboration with Swift expands the options available to buy- and sell-side firms to transmit real-time data to Deriv/Serv."
The hook-up to Deriv/Serv provides a welcome boost to the Brussels-based co-operative as it seeks to regain traction in the securities business. Speaking at a press conference at Sibos in Sydney yesterday, Swift CEO Lenny Schrank admitted that the company still has more to do to win over investment managers in particular.
To that end, Swift is mid-way through a thoroughgoing re-structuring of its securities industry division under head James Donovan (pictured). Six new divisions are being created to cater directly for the needs of distinct industry segments, including custodians, broker dealers, market infrastructures and investment managers, funds and treasury. The Society is also looking to hire professionals from the industry to take critical leadership roles in the new structure.
The need for improved automation in the securities business, and the OTC markets in particular, has been emphasised by the results of a recent JPMorgan poll of 20 asset managers and institutional investors who cited data management and systems infrastructure issues as the biggest challenges they faced. Three quarters of respondents said that their current infrastructure provided limited and insufficient support for the pricing and processing of derivatives.
Kirit Bhatia, global head of securities collateral management at JPMorgan, notes: "While asset managers and institutional investors are increasingly using OTC derivatives for a variety of investment reasons, many are not equipped for the associated processing challenges. The snapshot provided by these poll results supports what we are hearing through our ongoing dialogue with our wider client base and the market."
Thursday, September 14, 2006
Webinar from TowerGroup Live:Derivatives in Global Financial Services - Trends, Opportunities, and Technology Issues
Date:Thursday, September 21, 2006
Time: 12:00 pm, Eastern Daylight Time (GMT -04:00, New York)
Duration: 1 hour
Presenter: Dushyant Shahrawat, Research Area Director, Securities & Capital Markets
Summary:
Stocks, bonds, and foreign exchange are old news. If you want to peer into the future of finance, take a serious look at the esoteric world of derivatives instead. Derivatives are undergoing astounding growth and contribute 8-10% of overall revenue for many Wall Street firms. Investment managers, insurance firms, hedge funds, commercial banks, and corporates use them for hedging, risk management, or speculation. Activity among derivatives exchanges is extraordinary as well. Regulators are relaxing rules related to using derivatives, as evidenced by changes to ERISA and adoption of the Prudent Investor Rule. And yet, derivatives remain an enigma to many investors and industry participants.
This Session will-
- Introduce you to derivatives, including the size of this business, growth rates, and
different instruments
- Describe the current state of maturity of this market and expectations for the future
- Discuss major participants in this business and ways firms are using derivatives
- Analyze major IT issues in derivatives across trading, analytics, back-office processing, risk
management, and reporting
- Explain how derivatives fit into the strategy of brokerage firms and what individual firms are
providing.
Registration:https://btconferencing.webex.com/btconferencing/mywebex/epmainframe.php?MWAT=MC&rlink=https%3A%2F%2Fbtconferencing.webex.com%2Fbtconferencing%2Fsite%2Fmainframe.php%3FMainPage%3Dhttps%253A%252F%252Fbtconferencing.webex.com%252Fbtconferencing%252Fsite%252Fmeetinginfo.php%253FRnd%253D340550131%2526Action%253DMI%2526EventID%253D92377227%2526Host%253D26e23e2855033b0b183b%2526RG%253D1%2526Rnd1340%253D0.8741164709204887%26Rnd%3D1899060901&Rnd0683=0.8747773451121383
Time: 12:00 pm, Eastern Daylight Time (GMT -04:00, New York)
Duration: 1 hour
Presenter: Dushyant Shahrawat, Research Area Director, Securities & Capital Markets
Summary:
Stocks, bonds, and foreign exchange are old news. If you want to peer into the future of finance, take a serious look at the esoteric world of derivatives instead. Derivatives are undergoing astounding growth and contribute 8-10% of overall revenue for many Wall Street firms. Investment managers, insurance firms, hedge funds, commercial banks, and corporates use them for hedging, risk management, or speculation. Activity among derivatives exchanges is extraordinary as well. Regulators are relaxing rules related to using derivatives, as evidenced by changes to ERISA and adoption of the Prudent Investor Rule. And yet, derivatives remain an enigma to many investors and industry participants.
This Session will-
- Introduce you to derivatives, including the size of this business, growth rates, and
different instruments
- Describe the current state of maturity of this market and expectations for the future
- Discuss major participants in this business and ways firms are using derivatives
- Analyze major IT issues in derivatives across trading, analytics, back-office processing, risk
management, and reporting
- Explain how derivatives fit into the strategy of brokerage firms and what individual firms are
providing.
Registration:https://btconferencing.webex.com/btconferencing/mywebex/epmainframe.php?MWAT=MC&rlink=https%3A%2F%2Fbtconferencing.webex.com%2Fbtconferencing%2Fsite%2Fmainframe.php%3FMainPage%3Dhttps%253A%252F%252Fbtconferencing.webex.com%252Fbtconferencing%252Fsite%252Fmeetinginfo.php%253FRnd%253D340550131%2526Action%253DMI%2526EventID%253D92377227%2526Host%253D26e23e2855033b0b183b%2526RG%253D1%2526Rnd1340%253D0.8741164709204887%26Rnd%3D1899060901&Rnd0683=0.8747773451121383
Second Annual Asset Backed Securities Conference - Sept. 25, 2006
Date: Sept. 25, 2006 Location: Bayards, New York City
Summary:
Asset Backed Securities have made their way dramatically into the mainstream of investment practice and policy, and their use is exploding across the globe. As their use by investors continues to increase, the number of players entering the field continues to grow, as do the challenges and pitfalls that await both issuers and investors.
At this conference you will join your peers from broker/dealers, issuers, investment managers, mutual funds, regulators, trustees and vendor firms in learning the latest structures and regulations for ABS, what strategies are being employed to implement and market ABS, and strategies for regulatory compliance. The topics were selected with input from FMW’s readers, and include:
- State of the ABS Industry
- Regulatory Update
- CDOs and Credit Derivatives
- The Sub-Prime Market
- The Global Securitization Market
- ABS Tax and Accounting Update
- In-Depth ABS Product Analysis
- Advanced Securitization Techniques and Strategies
Registration Fee: The price for this one-day conference is $895.
URL - http://www.fmwonline.com/Conferences/2006/conf092506.htm
Summary:
Asset Backed Securities have made their way dramatically into the mainstream of investment practice and policy, and their use is exploding across the globe. As their use by investors continues to increase, the number of players entering the field continues to grow, as do the challenges and pitfalls that await both issuers and investors.
At this conference you will join your peers from broker/dealers, issuers, investment managers, mutual funds, regulators, trustees and vendor firms in learning the latest structures and regulations for ABS, what strategies are being employed to implement and market ABS, and strategies for regulatory compliance. The topics were selected with input from FMW’s readers, and include:
- State of the ABS Industry
- Regulatory Update
- CDOs and Credit Derivatives
- The Sub-Prime Market
- The Global Securitization Market
- ABS Tax and Accounting Update
- In-Depth ABS Product Analysis
- Advanced Securitization Techniques and Strategies
Registration Fee: The price for this one-day conference is $895.
URL - http://www.fmwonline.com/Conferences/2006/conf092506.htm
Friday, September 08, 2006
Conference: The Future of Derivatives Operations - 14 November, 2006
Sponsored by - Securities Operations Forum
Date and Location - Tuesday, 14th November 2006
Bayard's, One Hanover Square, New York City, NY 10004
The use of over-the-counter (OTC) derivatives is growing at a phenomenal rate as fund managers are increasingly using them as an investment tool. For example, over the last three years, the volume of derivatives processed by Northern Trust increased by 30% each year, and they processed as many OTC derivatives in the first quarter of 2006 as they did during the whole of 2005.
As a result of this industry-wide growth, the need to improve the operational efficiency of the back-office has never been greater. Derivatives as an asset class have the lowest level of automation across all segments of the investment industry. Automation has been a challenge due to the wide variety of instruments and rapid change in the products that are traded.
Securities Operations Forum and SmartStream Technologies are jointly hosting this focused and timely event, bringing together industry practitioners, consultants and regulators to help answer the pressing questions on the future of OTC derivatives processing.
What are the implications of the regulators’ demand for increased price transparency in derivatives valuation?
How are risk models changing and how are they applied to pricing problems?
What are the alternatives and what is the best route to improving timeliness of confirmation matching?
How can you build the business case for intelligent automation of OTC derivatives processing?
-----------------------------------------------------------------------------------------
AGENDA
08:00 to 09:00
Registration and Breakfast With Exhibitors
09:00 to 09:10
Chairman's Opening Remarks
Hal McIntyre, Managing Partner, The Summit Group
09:10 to 09:50
Keynote Address - From Alternative to Transformative: The Importance of
Derivatives to the Buy-Side
Matt Nelson, Senior Analyst, Investment Management Practice, TowerGroup
09:50 to 10:35
Derivatives Operations: An Overview of the Challanges Facing Investment
Managers and the Asset Servicer's Perspective
Moderator Matt Nelson, Senior Analyst, Investment Management Practice, TowerGroup
Panel Cherie Graham, Director, Client Solutions, BBH
Panel Shannon Law, Manager, Investment Operations, Franklin Templeton
Services, LLC
10:35 to 11:05
Morning Refreshment With Exhibitors
11:05 to 11:35
Regulatory Evolution
Brian Peters, Senior Vice President, Bank Supervision, Federal Reserve Bank of
New York
11:35 to 12:15
Mitigating Risk in Derivatives Processing
12:15 to 01:20
Luncheon With Exhibitors
01:20 to 02:05
Derivatives Processing: Fair Valuation & Pricing Transparency
Moderator Jeanene Timberlake, Managing Editor, Operations Management
Panel Raj Gadkari, Managing Director, Bear Stearns
Panel Kevin Gould, Executive Vice President, Markit
02:05 to 02:35
Afternoon Refreshment Break With Exhibitors
02:35 to 03:20
Derivatives Processing: Standards
Moderator John Sandman, Standards Editor, Securities Industry News
Panel Fabian Vandenreydt, Director of FX and Derivatives, SWIFT
Panel Brian Lynn, CTO, Global Electronic Markets LLC
03:20 to 04:05
Derivatives Processing: The Utilities' Perspective
Moderator George Reis, Industry Consultant, The Bond Market Association
Panel Chip Carver, CEO, SwapsWire
Panel Leo Schlinkert, Executive Vice President, Processing and Distribution,
Markit
Panel Janet Wynn, General Manager, Deriv/SERV, DTCC
04:05 to 04:15
Chairman's Closing Remarks and End of Conference
Hal McIntyre, Managing Partner, The Summit Group
-----------------------------------------------------------------------------------------
Conference URL - http://www.soforum.com/conferences/conference_agenda.php?cid=36
Date and Location - Tuesday, 14th November 2006
Bayard's, One Hanover Square, New York City, NY 10004
The use of over-the-counter (OTC) derivatives is growing at a phenomenal rate as fund managers are increasingly using them as an investment tool. For example, over the last three years, the volume of derivatives processed by Northern Trust increased by 30% each year, and they processed as many OTC derivatives in the first quarter of 2006 as they did during the whole of 2005.
As a result of this industry-wide growth, the need to improve the operational efficiency of the back-office has never been greater. Derivatives as an asset class have the lowest level of automation across all segments of the investment industry. Automation has been a challenge due to the wide variety of instruments and rapid change in the products that are traded.
Securities Operations Forum and SmartStream Technologies are jointly hosting this focused and timely event, bringing together industry practitioners, consultants and regulators to help answer the pressing questions on the future of OTC derivatives processing.
What are the implications of the regulators’ demand for increased price transparency in derivatives valuation?
How are risk models changing and how are they applied to pricing problems?
What are the alternatives and what is the best route to improving timeliness of confirmation matching?
How can you build the business case for intelligent automation of OTC derivatives processing?
-----------------------------------------------------------------------------------------
AGENDA
08:00 to 09:00
Registration and Breakfast With Exhibitors
09:00 to 09:10
Chairman's Opening Remarks
Hal McIntyre, Managing Partner, The Summit Group
09:10 to 09:50
Keynote Address - From Alternative to Transformative: The Importance of
Derivatives to the Buy-Side
Matt Nelson, Senior Analyst, Investment Management Practice, TowerGroup
09:50 to 10:35
Derivatives Operations: An Overview of the Challanges Facing Investment
Managers and the Asset Servicer's Perspective
Moderator Matt Nelson, Senior Analyst, Investment Management Practice, TowerGroup
Panel Cherie Graham, Director, Client Solutions, BBH
Panel Shannon Law, Manager, Investment Operations, Franklin Templeton
Services, LLC
10:35 to 11:05
Morning Refreshment With Exhibitors
11:05 to 11:35
Regulatory Evolution
Brian Peters, Senior Vice President, Bank Supervision, Federal Reserve Bank of
New York
11:35 to 12:15
Mitigating Risk in Derivatives Processing
12:15 to 01:20
Luncheon With Exhibitors
01:20 to 02:05
Derivatives Processing: Fair Valuation & Pricing Transparency
Moderator Jeanene Timberlake, Managing Editor, Operations Management
Panel Raj Gadkari, Managing Director, Bear Stearns
Panel Kevin Gould, Executive Vice President, Markit
02:05 to 02:35
Afternoon Refreshment Break With Exhibitors
02:35 to 03:20
Derivatives Processing: Standards
Moderator John Sandman, Standards Editor, Securities Industry News
Panel Fabian Vandenreydt, Director of FX and Derivatives, SWIFT
Panel Brian Lynn, CTO, Global Electronic Markets LLC
03:20 to 04:05
Derivatives Processing: The Utilities' Perspective
Moderator George Reis, Industry Consultant, The Bond Market Association
Panel Chip Carver, CEO, SwapsWire
Panel Leo Schlinkert, Executive Vice President, Processing and Distribution,
Markit
Panel Janet Wynn, General Manager, Deriv/SERV, DTCC
04:05 to 04:15
Chairman's Closing Remarks and End of Conference
Hal McIntyre, Managing Partner, The Summit Group
-----------------------------------------------------------------------------------------
Conference URL - http://www.soforum.com/conferences/conference_agenda.php?cid=36
Tuesday, August 22, 2006
Conference: Derivatives Operations, NY, Oct. 16, 2006
Derivatives Operations and Processing: Best Practices for Firm-Wide Control of OTC Derivatives Transactions
Location: Bayard's, One Hanover Square, in the India House, New York
Date: Oct. 16, 2006
Cost: Register by 9/15/2006 - $795.00! After 9/15/2006 - $895.00
URL: http://www.ftfnews.com/index.php?mod=Events&op=read&id=5
Abstract:
The complex world of OTC derivatives remains a constant challenge for today's banks and other financial institutions. Ever evolving derivatives products, regulatory updates and industry pressures require these institutions to keep their back-office operations running efficiently while keeping pace with today's fast moving markets. Establishing best practices and standards for the processing of derivatives is crutial for decreasing operational risk and increasing profit margins.
Discussion topics:
- Can Technology Keep Pace With the Increasing Complexity of Today's Derivatives?
- Regulatory Compliance as a Key Driver of Operational Efficiency
- Industry Initiatives Impacting Derivatives Processing
- Updates From Industry Organizations: DTCC, SWIFT
- Creating and Implementing Standardized Processes for Notification and Confirmation
- Best Practices for Clearing and Settlement of OTC Derivatives
- Establishing Transactional Controls in Operations for Proper Valuation of Derivatives
- Using Automation to Achieve Operational Efficiency and Reduce Risk
- STP and Reconciliations: Redefining Work Processes Across Front, Middle and Back-Offices
Sunday, August 20, 2006
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