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Over-the-counter (OTC) derivatives are key elements in many of our financial markets. The Dodd-Frank Act and other regulations have changed and are continuing to change how these important instruments are regulated and transacted. This program will introduce you to both the instruments and their current 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 exchange-type trading. An understanding of the current regulations and 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 OTC derivatives have been, what they are becoming and how they are documented. The faculty will also provide an overview of the regulatory framework for OTC derivatives and OTC derivatives market participants and explain how the regulatory framework is affecting these markets and market participants.
What You Will Learn
- What are OTC derivatives?
- What are the basic features of interest, credit, equity and commodity swaps?
- How are derivatives commonly traded today?
- What changes in trading methods are occurring?
- What is the ISDA Master Agreement and how does it work?
- What additional documentation has appeared in response to market changes?
- How are OTC derivatives being regulated?
Program Level: Basic
Prerequisites: An interest in swaps and other derivatives.
Intended Audience: 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 OTC derivative products.
Other Prerequisite: None
Advanced Prep: None