This seminar will be of interest to Senior and Intermediate Staff in the following areas:
| Time Slot |
Event | Speakers |
| 12:30 |
Registration and Lunch Sponsored by Ernst & Young | |
| 14:00 |
Introduction from the Chair | Frank Monks, Managing Director, Nexgen Capital Limited |
| 14:10 |
Credit Derivatives 101 - Overview of the credit derivatives market
- Outlook on the credit derivatives market growth
- Economic drivers of credit derivatives
- Role of the different participants [issuers, rating agencies, trustees] in today’s market
- Current industry challenges and transparency implications
- Risks in credit derivatives
- Overview of credit derivatives products and growth of baskets products
- Recent structural developments and outlook for the future
- New credit products: CPPIs, CPDOs, Leveraged Super Senior Structures | Eugene O'Keane, Head, Credit and Financial Products, RBC Insurance |
| 14:50 |
Credit Derivatives 102 – Perspectives on Collateralised Debt Obligations (CDOs)
- Current market updates and and their impact on the CDO market
- Development of the CDO market
- Latest updates in CDO downgrades and upgrades
- CDO structural innovations
- Cash vs. synthetic CDO mechanics
- Getting an intuition for correlation
- Investment, trading and hedging strategies using CDOs
- Investment and issuance trends and future outlook | Edward Cahill, European Head of CDOs, Barclays Capital |
| 15:30 |
Coffee | |
| 16:00 |
Credit Derivatives 103 - CDS developments
- Main terms - issuer and bond identification
- Key elements: reference entity, credit events triggers and variations (restructuring a credit event), settlement process
- Overview of new products: Loan Only CDS, CDS on ABS, CDS on CDO
- CDS on Leveraged Loans
- Valuation of CDS | Lars Jebjerg, Senior Director, Derivative Fitch |
| 16:40 |
Credit Derivatives 104 - Legal and regulatory updates
- Legal and regulatory issues relating to credit derivatives
- Structuring issues and documentation
- Regulatory capital treatment of credit derivatives
- Impact of MiFID | Christian Donagh, Partner, Structured Finance and Derivatives Group, Matheson Ormsby Prentice |
| 17:20 |
Credit Derivatives 105 - Accounting considerations for credit derivatives
- Updates in accounting standards for derivatives
- IFRS and fair value issues: impact on credit derivatives
- Influence of US GAAP and differences to IFRS
- Innovative structures driven by changes in accounting standards | Vadim Totskyy, Director in Client Solutions Team, Deutsche Bank AG London |
| 18:00 |
End of seminar and COCKTAILS: Sponsored by Invest Northern Ireland | |
