On-Demand   On-Demand Web Programs

Fundamentals of Swaps & Other Derivatives 2013

Released on: Oct. 30, 2013
Running Time: 06:11:18

Running Time Segment Title Faculty Format
[01:42:13] History/Contemporary Derivatives Part I Joshua D. Cohn ~ Mayer Brown LLP
Mark Lenczowski ~ Managing Director, JPMorgan Chase Bank, N.A.
Gary M. Rosenblum ~ Senior Vice President and Associate General Counsel, Bank of America-Merrill Lynch
Richard E. Grove ~ Chief Executive Officer, Rutter Associates, LLC
On-Demand MP3 MP4
[01:31:09] Financial Reform Overview Martha L. Burke ~ Senior Counsel, Wells Fargo
David J. Gilberg ~ Sullivan & Cromwell LLP
Angie Karna ~ Managing Director, Nomura Securities International, Inc.
Jerome J. Roche ~ Mayer Brown LLP
On-Demand MP3 MP4
[01:53:40] Derivatives Documentation - Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements Joshua D. Cohn ~ Mayer Brown LLP
Lauren Teigland-Hunt ~ Teigland-Hunt LLP
Ray Shirazi ~ Cadwalader Wickersham & Taft LLP
Mark New ~ Assistant General Counsel, International Swaps and Derivatives Association, Inc. (ISDA)
Kahyeong Lee ~
On-Demand MP3 MP4
[00:58:50] Bilateral OTC Derivatives: Termination, Valuation, Netting, Closeout, Netting Opinions Scott L. Flood ~ Managing Director and Senior Deputy General Counsel, Citigroup Global Markets Inc.
Joshua D. Cohn ~ Mayer Brown LLP
Cristina Perez ~ Managing Director and Associate General Counsel, HSBC Securities (USA) Inc.
On-Demand MP3 MP4

Over-the-counter (OTC) derivatives are key elements in many of our financial markets.  The Dodd-Frank Act is substantially changing how these important instruments are regulated and transacted.  This program will introduce you to both the instruments and their new environment.

A derivative is a financial instrument that allocates the risks and price exposures associated with a designated reference asset or entity between the parties thereto.  Derivatives can provide price exposure or price insulation to changes in the price or level of an open-ended range of assets or baskets of assets, including indices, stocks, interest rates, currencies, bonds, commodities, insured risks, credit risks, investment funds, property, the weather and more.  Derivatives are used in an infinite variety of ways by commercial, charitable, educational and governmental entities to manage the commercial and financial risks they confront. OTC derivatives have been bilaterally traded for many years.  They are now becoming subject, in some cases, to required clearing and possible exchange-type trading. An understanding of the new regulations and of the characteristics, documentation and regulation of these instruments is the first step to effective lawyering.

In this program, our distinguished faculty will explain what OTC derivatives have been, what they are becoming and how they are documented.  The faculty will also provide an overview of the new regulatory framework for OTC derivatives and OTC derivatives market participants and explain how the new regulatory framework will affect these markets and market participants.

Lecture Topics  [Total time 06:11:18]

Segments with an asterisk (*) are available only with the purchase of the entire program.

  • Opening Remarks* [00:05:26]
    Joshua D. Cohn
  • History/Contemporary Derivatives Part I [01:42:13]
    Joshua D. Cohn, Richard E. Grove, Mark Lenczowski, Gary M. Rosenblum
  • Financial Reform Overview [01:31:09]
    David J. Gilberg, Angie Karna, Martha Burke, Jerome J. Roche
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements [01:53:40]
    Joshua D. Cohn, Kahyeong Lee, Ray Shirazi, Lauren Teigland-Hunt, Mark New
  • Bilateral OTC Derivatives: Termination, Valuation, Netting, Closeout, Netting Opinions [00:58:50]
    Joshua D. Cohn, Scott L. Flood, Cristina Perez

The purchase price of this Web Program includes the following articles from the Course Handbook available online:

  • Valuation in the Context of Derivatives Litigation
    Richard E. Grove
  • History/Contemporary Derivatives Parts I & II (October 15, 2012)
    Gary M. Rosenblum
  • Commodity Derivatives
    Mark Lenczowski
  • CFTC Inter-Affiliate Clearing Exemption and Related Relief (October 17, 2013)
    David J. Gilberg
  • Regulatory Implementation of Title VII of the Dodd-Frank Act as of August 19, 2013 (August 19, 2013)
    David R. Sahr
  • Commodity Futures Trading Commission, 77 Fed. Reg. 9734 (February 17, 2012) [Vol. 77, No. 33 (pages 9734–9736; 9822–9829)]
    Martha Burke
  • Basics of the ISDA Master Agreements (July 31, 2013)
    Ray Shirazi
  • Overview of ISDA’s Credit Support Annex (New York Law Version) (August 2013)
    Lauren Teigland-Hunt
  • ISDA Default/Close-Out Procedures
    Joshua D. Cohn
  • ISDA: Netting Legislation—Status and Collateral Opinion List
    Joshua D. Cohn
  • Barclays Bank Mexico, S.A.v. UrbiDesarrollos Urbanos, S.A.B.deC.V., No. 651226/2013, New York State Supreme Court, New York County (Manhattan)
    Joshua D. Cohn
  • Credit Agricole Corporate and InvestmentBank New York Branchv. American Home Mortgage Holdings Inc. (In Re: American Home Mortgage Holdings, Inc.), 3d Cir., No. 09-4295 (Feb.16, 2011)
    Joshua D. Cohn
  • Basics of the ISDA Master Agreements (October 16, 2013) (PowerPoint slides)
    Ray Shirazi

Presentation Material

  • History/Contemporary Derivatives Part I
    Richard E. Grove
  • History/Contemporary Derivatives Parts I & II
    Gary M. Rosenblum
  • Financial Reform Overview
    Martha Burke
  • Financial Reform Overview
    David J. Gilberg
  • Financial Reform Overview
    Angie Karna
  • Financial Reform Overview
    Jerome J. Roche
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements
    Ray Shirazi
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements
    Lauren Teigland-Hunt
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements
    Mark New
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements
    Kahyeong Lee
  • Derivatives Documentation -- Overview of the ISDA Architecture; Masters, Schedules, Confirms, CSAs and collateralization; Execution and Account Agreements
    Kahyeong Lee
  • Distinguishing Futures vs. OTC Execution Processes
    Lauren Teigland-Hunt
  • Bilateral OTC Derivatives: Termination, Valuation, Netting, Closeout, Netting Opinions
    Cristina Perez
Co-Chair(s)
Joshua D. Cohn ~ Mayer Brown LLP
Speaker(s)
Martha L. Burke ~ Senior Counsel, Wells Fargo
Scott L. Flood ~ Managing Director and Senior Deputy General Counsel, Citigroup Global Markets Inc.
David J. Gilberg ~ Sullivan & Cromwell LLP
Richard E. Grove ~ Chief Executive Officer, Rutter Associates, LLC
Angie Karna ~ Managing Director, Nomura Securities International, Inc.
Mark Lenczowski ~ Managing Director, JPMorgan Chase Bank, N.A.
Mark New ~ Assistant General Counsel, International Swaps and Derivatives Association, Inc. (ISDA)
Cristina Perez ~ Managing Director and Associate General Counsel, HSBC Securities (USA) Inc.
Jerome J. Roche ~ Mayer Brown LLP
Gary M. Rosenblum ~ Senior Vice President and Associate General Counsel, Bank of America-Merrill Lynch
Ray Shirazi ~ Cadwalader Wickersham & Taft LLP
Lauren Teigland-Hunt ~ Teigland-Hunt LLP

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