ISDA Masterclass: Derivatives Documentation

CLE Credit Hours Available (New York)
Transitional and Non-Transitional
8 CLE Credits (Day 1) ｜ 7.5 CLE Credits (Day 2)

Number of CPD Points: 14 Public CPD Points (7 Public CPD Points each day)

Practice Area: Banking and Finance

Training Level: General

To claim Public CPD points, please provide your AAS Number or SILE-issued s36B Foreign Lawyer Number in the registration form or email it to ISDA Conference Department (Asia) at ISDAAP.RSVP@isda.org prior to the event.

Participants who wish to obtain CPD Points must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, participants are reminded to sign in on arrival and sign out at the conclusion of each day of the event in the manner required by the organiser. Participants must not be absent from each day of the event for more than 15 minutes. Participants may obtain Public CPD Points for each day of the event on which they comply strictly with the Attendance Policy. Participants who do not comply with the Attendance Policy on any particular day of the event will not be able to obtain CPD Points for that day. Please refer to http://www.sileCPDcentre.sg for more information.

The documentation supporting the majority of the world’s derivatives transactions has been standardized to some extent since the introduction of the first form of ISDA Master Agreement in 1987.  The ever-evolving landscape of regulations, products and market innovations, however, has required a growing yet nuanced architecture of comprehensive derivatives documentation to ensure the market can operate in the most safe and efficient manner possible.

This comprehensive two-day course will introduce you to the key uses and risks of derivatives and provide an in-depth review of the foundational documents related to derivatives transactions. You will learn to identify key elements of derivatives documents (including the ISDA Master Agreement and initial margin and variation margin credit support documentation), gain an understanding of key considerations when negotiating these documents, and learn how to use the ISDA Create platform to turn those negotiations into legal documents.  This course will also cover special document-related developments emerging in derivatives, including those related to environmental trading, securities financing transactions, and digital currencies.

Led by a team of seasoned industry practitioners, the ISDA Masterclass on Documentation will equip you with a deep practical knowledge of the key elements of ISDA’s documentation, and will increase your confidence in negotiating these documents, as well as provide insight into the latest developments in market documentation.

This course is designed to be both instructional and interactive. Participants will be encouraged to ask questions throughout and will be given the opportunity to work first hand with ISDA Create to simulate a real contract negotiation. If there is something specific you would like to learn in this course you can submit your question to the speakers ahead of the conference and we will do our best to have them answered the day of the event.

This course is designed for individuals at law firms, financial institutions, regulators and corporates who want to understand the fundamental concepts of derivatives documentation, as well as practical considerations for negotiating derivatives documentation. It is particularly relevant for: 

• Individuals at law firms or in legal or documentation departments of financial institutions, regulators and corporates who want to gain a thorough grounding in derivatives documentation, so they can effectively and efficiently manage documents and execute derivatives transactions.

• Mid-to senior-level legal managers working in finance, banking and corporate institutions or in sectors such as energy or commodities who are aiming to gain a deep understanding of how derivatives are used to manage risk and how to approach risks in documenting derivatives transactions.

• Legal, regulatory reporting and compliance specialists/officers who want to better understand the role derivatives play in managing risk and the related legal documentation requirements.
  Executives and managers responsible for business and tactical initiatives looking to understand the role derivatives can play and how to effectively and appropriately document derivatives transactions.

• Executives and managers responsible for business and tactical initiatives looking to understand the role derivatives can play and how to effectively and appropriately document derivatives transactions.
  
  
  

• Introduction to derivatives products, uses and risks, as well as elements of how netting and close out functions. 
• The course includes case studies of two negotiating parties that we will follow through the duration of the course. 

• Architecture of ISDA documents (the ISDA Master Agreement, credit support documents, definitions, confirmations and protocols) and how they function together. What can the documentation do to mitigate risk and what can’t it do?

• Deep dive into the ISDA Master Agreement and credit support documentation for variation margin and initial margin, with focus on the most heavily negotiated elements/elections/sections using live examples. We'll follow an example set of counterparties to understand why they would make certain elections or choose particular negotiating positions across the documents and the consequences of those selections. This section will take up the majority of the Masterclass.

• Developments in documentation including securities financing transactions, digital assets, environmental, social and governance markets, the 2021 ISDA Interest Rate Derivatives Definitions and digitized documents.

• All materials for this course will be distributed electronically prior to the start of the course, no printouts will be provided on-site. Power outlets will be provided for portable devices.

• A laptop is required to participate the course workshops. We will not be able to provide laptops on-site.

• Technical Requirements:

  • Devices must be able to connect to WiFi

  • Complete the technical test here to ensure your browser can access CreateiQ. 
    (Supported browsers include Microsoft Edge, Google Chrome or Mozilla Firefox. If your organization does not pre-install Edge, Chrome or Firefox, you must arrange access prior to the day of the course)
    
    
• For attendees who require CLE credit, you must be present by registering your attendance and departure on the attendance sheets at the registration desk.