Fundamentals of Swaps & Other Derivatives 2010 (Groupcast Location)

Overview

Co-Sponsored by New Jersey Institute for Continuing Legal Education

Why You Should Attend

The credit crisis has led to the most extensive overhaul of financial regulation since the early 20th century.  Significant elements of the recent reform involve the regulation of over-the-counter derivatives and the market participants who transact in these products.

A derivative is a financial instrument that allocates the risks and price exposures associated with a designated asset between the parties to an instrument.  Derivatives can provide price exposure or price insulation to changes in the price or level of an open-ended range of assets, including 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, eleemosynary and governmental entities to manage the commercial and financial risks they confront.  As the breadth and complexity of derivatives evolve, so too does the complexity of associated documentation and legal issues.

An understanding of the characteristics, documentation and regulation of these instruments is the first step to effective lawyering.

At this program, our distinguished faculty will explain what over-the-counter derivatives are and how they are documented.  The faculty will also provide an overview of the new regulatory framework for derivatives and derivatives market participants and explain how the new regulatory framework will affect these markets and market participants.

What You Will Learn

• What are over-the-counter derivatives?
• What are the basic features of fixed income, credit, equity and commodity swaps?
• How derivatives are commonly traded today
• What is the ISDA Master Agreement and how does it work?
• How are derivatives regulated?

Who Should Attend

This program is intended for outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end users of swaps, as well as counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivate products.

Special Bonus to all Registrants

All attendees receive a complimentary copy of PLI's comprehensive Course Handbook. This softcover, bound volume was written to augment this program and to stand alone as a permanent reference. PLI's Course Handbooks represent the definitive thinking of the nation's finest legal minds, and are often the standard reference in the field.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Schedule

Morning Session:  9:00 a.m. - 12:45 p.m.

9:00  Opening Remarks

E. Rosen

• The origin and evolution of swaps and other derivatives
• Fundamentals of forwards, futures, swaps and options
• How to value derivatives
• Will derivatives be fundamentally changed by the new regulatory and market environment?

R. Grove

11:00  Networking Break

11:15  Contemporary Derivatives

• Equity swaps
• Credit default swaps
• Commodity swaps

D. Bendernagel, R. Grove, A. Karna, K. Raisler

12:45  Lunch Break

Afternoon Session:  1:45 p.m. - 5:00 p.m.

1:45  Derivatives Documentation - Overview of the ISDA Architecture

• Master Agreement
• Schedule
• Confirmation
• Credit support annex
• Bridges and protocols

J. Cohn (Moderator), S. Flood, L. Teigland-Hunt

• Swaps and security-based swaps
• Overview of the new regulatory framework for swaps and security-based swaps
• How the new regulatory framework will affect the markets and market participants

D. Berkovitz, S. Ervin (invited), G. Goldman, A. Nazareth, E. Rosen

3:45  Networking Break

4:00  Financial Reform Overview (continued)

5:00  Adjourn

Faculty

Speaker(s)

Program Attorney(s)

CLE Credit

Travel Information

New Jersey Groupcast Location

New Jersey Institute for Continuing Legal Education, One Constitution Square, New Brunswick, NJ 08901-1520. 732-249-5100.