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ISDA® is a registered trade mark of the International Swaps and Derivatives Association, Inc.
This programme is neither sponsored by nor affiliated with the International Swaps and Derivatives Association, Inc.

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An Introduction to Central Clearing

Audience: This course introduces you to the operational and legal aspects of central clearing. It suits people in the legal and compliance teams, the operational teams (middle office), front office, as well as the collateral teams who need to understand the way in which central clearing will impact the way OTC derivatives are traded.

 

  • What is central clearing?

  • What products will it apply to?

  • How a CCP protects against counterparty default

  • Benefits and risks of a CCP

  • The structure of a CCP and multilateral netting

  • Initial Margin and Variation Margin for cleared transactions

  • CCP resolution and the default waterfall

  • Client clearing (agency and principal models)

  • Protection and segregation of margin and the different models of segregation (omnibus, segregated and LSOC) 

  • Collateral management for clearing

  • Clearing requirements under Dodd Frank, EMIR and FMA

  • Risks, benefits and challenges of central clearing

  • Documentation for central clearing (principal model documentation and agency model documentation)

  • Clearing and netting and ISDA® opinions

  • Porting of trades through a clearing house

 

Outcomes: Delegates will gain detailed insight into how central clearing works from a legal and operational point of view and how it will impact the way in which OTC derivatives are traded. 

 

Duration: 8 hours (9am – 5pm)

 

Cost: R8 500 per person (excluding VAT)

IN-HOUSE
For a
minimum of
5 delegates
Contact us to arrange a mutually beneficial date, and we will come in-house to present the above course to a group of 5 or more. Q&A to suit your organisation's specific needs.