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

  • 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)

Register your interest by completing your details, and once we have the minimum number required, we will contact you to
co-ordinate a suitable date.
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.
ONLINE - LIVE
Contact us to join a live and interactive online version of this course - to best suit your individual needs. How it works:
  • via a platform of your choice
  • live presentation in 2-hour sessions over 4 consecutive days
  • pdf printable slides
  • interactive Q&A
  • same rate as in-person training, but with added teaching time (no breaks)

Any party playing in this space must utilise DeriviDoc's knowledge and experience to ensure limitation (to a degree) of legal risk.  

Nadia Muller, Legal at Prescient

Excellent, practical and useful training as usual, with a focus on both legal as well as operational issues.  

Anonymous, March 2018

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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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