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The Finance Dublin Securitisation Conference 2006
Day 1 - 28th November 2006 |
| Go to Day 2 conference programme |
| Time Slot |
Event | Speakers |
| 12:30 |
Registration | |
| 13:00 |
Lunch and refreshment break
Sponsored by BDO Simpson Xavier | |
| 14:00 |
Chairman's opening remarks | Fergal McGrath, Managing Director, Global Head of Credit Spread Portfolio, Dexia |
| 14:10 |
KEYNOTE ADDRESS 1: Credit Market Trends and Outlook
* The current default environment: are default risks lower now than at similar stages in earlier cycles?
* The links between spreads, interest rates and the macroeconomy
* The shape of the next credit cycle and the outlook for spreads | Jeffery Amato, Head of European Credit Strategy, Goldman Sachs International |
| 14:30 |
PANEL I: THE CDO MARKET
* How investors can take advantage of the extensive innovation in the CDO market
* Strategic advice for the CDO investor in a mature credit environment
* Overview of collateral manager developments
* Collateral Overviews:
– Mortgage related, market value and cash flow
- Non-Mortgage ABS
- Loans and CLOs: including: European CLO market, optimal CLO structures, mezzanine market trends, profile of leading CLO managers in Europe, success factors and market outlook: next generation
- Emerging Market CDOs
- Market value CDOs
* Leveraged loan CDOs: Spread compression: the search for yield; Servicing debt: PIK notes; Equity contribution levels
* Repackagings: Typical structures, synthetic structures and innovative structures: Introduction of esoteric assets, Multi-sector, CDOs of CDOs
* ABCP
* Hedge fund CDOs and private equity securitisations | Moderator: Robert Walsh, Head CDO Banker, Dresdner Kleinwort
Shaun Baddeley, Senior Director, European Structured Finance, FitchRatings
Robina Barker Bennett, Head of Structured Products, HBOS
Terry McCabe, Managing Director, ACA Capital
Pascale Viala, Managing Director - Head of European Capital Markets, CIFG Europe |
| 15:20 |
PANEL II: SYNTHETIC CDOs
* Convergence of cash and synthetic CDO markets
* Synthetic balance sheet CDOs
* Synthetic arbitrage CDOs
* Cash v synthetic arbitrage CDO equity cash flow
* Full capital structure
- Static vs. partially managed vs. fully managed
- Single tranche CDOs hedged through CDS on ratings default scenarios and collateral considerations
* Arbitrage CDOs: static vs. fully vs partially managed ; forms of exposure: cash, hybrid or synthetic; equity hedging capabilities
* Hedging the CDO portfolio cash flow
* Credit default swaps and the future of the CDS market
* CDS v TRORS and TRORS v Repos
* Synthetic and hybrid conduit structures
* SIV and MTN structures
* Synthetic portfolio insurance and CPPI trades | Moderator: Fergal McGrath, Managing Director, Global Head of Credit Spread Portfolio, Dexia
Sunil Dattani, Head of CDO Investments, UBS Global Asset Management (UK) Ltd
Michael Furtado, Director, RBC Capital Markets
Andrew Gates, Managing Director, Structured Finance, Bank of Montreal Ireland plc
Christopher Nolan, Head of Structured Credit Products, Sachsen LB Europe PLC |
| 16:10 |
Refreshment break
Sponsored by AIB International Financial Services | |
| 16:30 |
KEYNOTE ADDRESS 2: RESIDENTIAL AND COMMERCIAL PROPERTY: THE HOTSPOTS | Birgit Specht, Managing Director, Head of Securitised Products Strategy, Europe, Citigroup Global Markets Ltd. |
| 16:50 |
KEYNOTE ADDRESS 3: OVERVIEW OF THE RMBS MARKET | Victoria Johnstone, Senior Vice President, Structured Finance Quantitative Group, DBRS (Europe) Limited |
| 17:10 |
PANEL III: THE MORTGAGE BACKED MARKET
* Innovations in MBS; MBS in Ireland
* Impact of economy on the housing market – implications for debt markets
* Will the steady growth in the UK non- conforming market [RMBS which does not fit within the prime/sub-prime category: non-certified buyers of mortgages] be repeated in Ireland?
* Multi jurisdiction RMBS
* Conduit trends in European RMBS
* Growth in CMBS – future trends
* Review of Opera Finance (CMH) - discussion on Ireland's first CMBS transaction
* CMBS future in Irish Context
* CMBS conduits
* REITS | Moderator: Stephen Hynes, Managing Director Capital Markets, GMAC RFC
Reto Bachmann, Head of European ABS Strategy, UBS
John Bigley, Vice President, Real Estate Finance Group, Merrill Lynch
Hugh Fraser, Vice President, European Debt Capital Markets, Eurohypo AG
Giuliano Giovannetti, Head of Sales & Market Development, PMI Mortgage Insurance Company Limited
Philippe Tapernoux, Head of UK/Northern Europe Securitisation, IXIS Corporate & Investment Bank |
| 18:00 |
Cocktail reception sponsored by The Stock Exchange | | |
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Conference Sponsors
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Media Partners
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