Annapolis Ballroom 1/2

This session will focus on issues relating to the clearing of derivatives products, with a special emphasis on the clearing of over-the-counter products such as credit derivatives and OTC agricultural swaps. Issues to be discussed include the treatment of cleared swaps in segregation and implications for the rights of parties with futures contracts. Issues relating to the margining of short options, criticism of the use of VAR as a valuation methodology and the future of portfolio margining initiatives in a credit constrained world.

Moderator:
Bonnie Litt, Managing Director & Associate General Counsel, Goldman Sachs

Speakers:
Anthony Belchambers, Chief Executive Officer, Futures and Options Association
Jessica Bertoldi, Assistant General Counsel, The Clearing Corporation, Chief Compliance Officer & Assistant General Counsel, ICE U.S. Trust
Timothy Doar, Managing Director, Risk Management, CME Group
John Lawton, Deputy Director and Chief Counsel, Clearing and Intermediary Oversight, Commodity Futures Trading Commission
Edward Rosen, Partner, Cleary, Gottlieb, Steen & Hamilton