Webinar: How portfolio compression can cut your swap clearing costs
AUDIO: An audio replay of the Webinar. Click on the 'Play' button to listen.
Clearing brokers are paying more for capital. This is forcing them to increase clearing fees or jettison clients that are not profitable enough to deliver a margin over the cost of capital. Clients at risk include fund managers using swaps. Fortunately, there is a way for fund managers to reduce the investment bank capital consumed by their swap activities. It is called portfolio compression. The webinar will explain how to do it, and what the benefits are.
Topics discussed include:
- The impact of Basel III: Why clearing brokers have to charge fund managers more for transacting swap business
- How mandatory clearing is changing the relationship between fund managers and clearing brokers
- The impact of swap trading platforms on clearing brokers
- How portfolio compression can make a fund manager a more attractive client to a clearing broker
- Why portfolio compression is a more effective solution than netting
- How to compress a swap portfolio, in terms of infrastructure and documentation, and who can help a fund manager do it
The webinar will be moderated by COOConnect founding partner Dominic Hobson, and will include the following panellists:
Opening and closing remarks by Dominic Hobson, Founder of COOConnect.
Tom Lodge is a Partner at Catalyst Development Ltd. He is a leading expert in OTC clearing and swap compressions, with more than 18 years’ investment banking experience spanning change management, product control, finance and trading. Tom has a thorough understanding of front to back OTC clearing and in the design and delivery of both tactical solutions to hit market deadlines and robust, scalable strategic solutions for the long term.
Jaki Walsh is Managing Director at Derivati Consulting, a specialist consulting firm offering cross asset class expertise in the derivatives market; specifically focusing on the evolving market structure and the challenges relating to the implementation of EMIR / Dodd Frank Regulations. With over 15 years of global experience in derivatives and project management across investment banking, asset management and CCP, she has the unique benefit of having sell-side, buy-side and service provider experience in the Derivatives market. Jaki can be relied upon to deliver what is promised, will manage expectations and does not believe in staying within a ‘comfort zone’, rather “in getting my hands dirty to get the job done”. Prior to founding Derivati Consulting, Jaki was head of EMEA OTC Product at CME Group where she worked closely with buy and sell-side clients to support the successful launch of dealer-to-customer OTC clearing services. She also held various roles at F&C Investments including group derivatives operational officer where she was responsible for the firms' group derivatives middle office, operational oversight, control and development and acted as the prime derivatives representative between both external and internal derivatives stakeholders including legal, compliance, derivatives counterparts, clearing houses and outsourced vendors.
John Wilson is a former Global Head of OTC Clearing at Newedge and RBS, where he spearheaded those services across all of their facets including commercial, operations, collateral, funding, risk and IT. John played a significant role in the development of many of the international OTC CCPs [Rates, Credit, FX] and also represented the industry in numerous discussions with regulators and politicians in the EU in relation to the EMIR and Short Selling proposals. He is a former member of ISDA's Credit Steering Committee, ISDA Client Clearing Working Group, ISDA Default Management Working Group and Fed Transparency Working Group. He now is a Managing Director, Strategy & Business Development at Tradition, one of the World’s leading inter-dealer brokers which operates Trad-X and ParFX, as well as providing services across all major assets classes.
LOGISTICS AND PUBLICITY:
Each panel discussion will be broadcast live online. Attendees will be able submit questions online that can be put to the panellists during the webinar.
Access to the recording of the webinars will be made available online in both audio and video format.