€1,694

Central Counterparty Clearing

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NH Hotel

Mozartova 1

Prague

Czechia

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Event description
An overview of the evolution of OTC Central Clearing, regulatory initiatives and the implications for the risk landscape

About this Event

This course is intended to provide an appreciation of central counterparty clearing particularly in relation to the clearing of OTC derivatives. Particular focus will be given to regulatory initiatives to develop the use of CCPs for OTC derivatives clearing following the financial crisis of 2007/8, the risk mitigation mechanisms developed by CCPs in response to the regulatory challenge, in particular: the margin requirements; auction processes; loss allocation methods and of course capital requirements.

The course will also look at the evolution of central clearing and the impact on risk that CCPs may have in future crises, both positive and negative, particularly in relation to counterparty credit risk, XVAs and systemic risk.

Quote:

How to manage exposure to CCPs is amongst the biggest unknowns in today’s financial system.

The course is intended particularly for risk managers, traders, regulators and anyone involved with clearing systems.

Objective is for participants to gain an appreciation and understanding of the following topics:

  • CCP margin frameworks
  • The default management process
  • The loss allocation waterfall
  • Key issues including: direct clearing, indirect client clearing, portability, segregation
  • Other related counterparty risk mitigation tools and their limitations
  • Systemic risk and extreme tail risk
  • Can a CCP fail? Some historical examples
  • Stress Testing a CCP and a recovery and resolution plan
  • Capital requirements for exposures to CCPs
  • The background and evolution of central counterparty (CCP) clearing

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Location

NH Hotel

Mozartova 1

Prague

Czechia

View Map

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