M2:  Equity Derivatives & Credit Derivatives - Legal Issues & Documentation

1 day 28 Sep 2017, Singapore Singapore $2,290.00 Download brochure Add to basket

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Overview

This course represents module 2 of the Derivatives Documentation School.

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

Singapore
Schuyler K Henderson
Schuyler K. Henderson, author of 'Henderson on Derivatives', is one of the leading international derivative lawyers. Since 1977 he has been resident in London, during which he has represented numerous international financial institutions in the full range of credit extensions. He has been particularly active in he derivatives market, having acted for one of the participants in the first publicised currency exchange agreement in 1977.

Since then he has been actively involved in the creation of innovative financial products on behalf of over fifty financial institutions. His practice has regularly included: developing new products; structuring, drafting and negotiating complex financings, including repackagings, credit-linked securities and tax or regulatory drive structured transactions; preparation of standard form ISDA® documentation (including for use with specialised counterparties and confirmation templates for virtually all types of derivatives); supervision of backlog documentation and establishment of derivatives dealers in a number of jurisdictions, provision of regulatory, enforcement and tax advice in respect of over 30 jurisdictions; enforcement of
derivatives documentation and representation of parties in disputes involving derivatives.

Since retiring he has continued to consult, lecture and write on derivatives. Schuyler is the author of numerous publications on financial topics, and is a member of the Editorial Advisory Board of The Law and Financial Markets Review. He is a regular speaker and chairman at various conferences on international finance in many international financial centres.

Venue

Singapore

4-5 Star Hotel in Singapore

All of our courses are held in 4 – 5 star hotels, chosen for their location, facilities and level of service. You can be assured of a comfortable, convenient learning environment throughout the duration of the course.

Due to the variation in delegate numbers, we will send confirmation of the venue to you approximately 2 weeks before the start of the course. Course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

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Agenda
Day 1

 

Equity Derivatives: the Market and Products 

  • The market 
  • Forms and uses 
  • Other uses 
    - Equity-funding deposit swap 
    - Takeover legislation (Perry) 
    - Employee offering (Marconi) 
    - Equity share derivatives 
  • Equity index derivatives

2002 ISDA and 2011 Equity Derivatives Definitions 
  • Products; the dealing market 
  • Trading (hedge disruptions) 
  • Index events 
  • Extraordinary events (mergers, recapitalizations, etc) 
  • Fallbacks 
  • Knock-in/out events 
  • Additional disruption events; hedging issues 
  • Calculation Agent; Determining Party 
  • Additional representations and acknowledgements 
  • Master equity derivatives confirmation agreements 
2011 ISDA Equity Derivatives Definitions Structure 
  • Modular approach 
  • Structure 
    - Main book 
    - Appendix 
    -  Transaction Matrix 
    -  T-Supp (confirmation) 
  • Drafting devices 
  • Legs 
  • Primary Features 
    - Swap 
    - Option 
    - Forward 
  • Underliers 
  • Exchanges 
  • Days and dates 
    - Scheduled etc 
  • Calculation Dispute Resolution Procedure 

Commodity Derivatives and Commodity Derivatives Definitions 
  • The Market and products 
  • ISDA 2005 Commodity Derivatives Definitions 
    - Basic provisions 

Credit Derivatives 
  • Overview of market 
  • Default swaps 
  • Baskets: leverage or diversification 
  • Uses 
    - Hedging 
    - Investment 
    - Capital reduction 
  • Physical and cash settlement 

2014 ISDA Credit Derivatives Definitions: Overview 
  • Reference Entity 
  • Credit Events (Obligations and Credit Event): issues 

2014 ISDA Credit Derivatives Definitions (continued) 
  • Physical and cash settlement: issues 
  • Dealing market choices: compromise; standard 
  • Indexes 
Module Concludes



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