FIA Forum: Treasury Clearing 2024
The Evolution of Agency Clearing
15 October 2024 • 1:00 PM - 6:45 PM ET • BNP Paribas Tower • New York, NYRecently, the US Securities & Exchange Commission mandated the clearing of certain treasuries and repos. The countdown to meet this mandate by 2026 has begun – and many participants in the cleared derivatives markets are making plans to deliver these new services.
Join us on 15 October in New York for a half-day forum that explores the types of clearing models being developed by clearinghouses. We’ll also discuss the practical implications of treasury clearing and how firms should prepare for these changes.
Online registration is closed. If you are interested in attending this forum, please add yourself to the waitlist. If space becomes available, FIA will contact you to complete your registration.
Event Details
1:00 p.m. - 5:30 p.m.
Registration Open
1:45 p.m. – 2:00 p.m.
Opening Remarks
2:00 p.m. – 2:20 p.m.
Keynote Address
The address will focus on the benefits of expanding central clearing and some considerations to take into account when implementing the SEC’s central clearing rule. In particular, the remarks will discuss how clearing reduces counterparty risk, reduces settlement flows and fails, and establishes consistent and robust risk management practices for clearing. Regarding implementing the mandate, the remarks will cover topics such as client clearing access models, margin practices, and the possibility of multiple central counterparty entrants to the U.S. Treasury market.
Speaker:
2:20 p.m. – 3:05 p.m.
New Models for Treasury and Repo Clearing
This panel will feature presentations from clearinghouse executives on their offerings for Treasury and repo clearing, followed by a question-and-answer session to compare and contrast key features such as account structures and margin offsets.
Moderator:
- Allison Lurton, Chief Legal Officer & General Counsel, FIA
Speakers:
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Paul Hamill, ICE
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Laura Klimpel, Managing Director, Head of DTCC’s Fixed Income and Financing Solutions, DTCC
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Suzanne Sprague, Senior Managing Director, Global Head of Clearing & Post-Trade Services, CME Group
3:05 p.m. – 3:30 p.m.
Networking Break
3:30 p.m. – 4:20 p.m.
Capacity and Structural Needs for Clearing Success
As new clearing models come into focus, market participants are exploring the potential for agency clearing in the Treasury market. Many questions remain about the pros and cons of the agency model relative to sponsored and direct models, how much capacity banks have for clearing, how limits can be managed across multiple venues, and whether porting and position transfer functionality will be available by the deadlines. Our expert panel will discuss what efforts are underway and what issues remain unsolved.
Moderator:
- Murray Pozmanter, Owner, Harborview Market Advisory LLC
Speakers:
- Kevin Peers, Head of Fixed Income, ABN AMRO Clearing USA LLC
- John Schwartz, Managing Director: North America Fixed Income Financing, JP Morgan
- Jason Swankoski, Global Head of Strategy and Product - Derivative Clearing, Morgan Stanley
4:20 p.m. – 5:10 p.m.
Treasury Clearing: The Customer Perspective
Asset managers, hedge funds and principal trading firms will all be affected by the clearing mandate, but each type of market participant will have different needs and operational challenges as they comply with the mandate. A variety of buyside participants will explore what obstacles and opportunities they see ahead.
Moderator:
- Tyler Wellensiek, MD, Head of Fixed Income Market Structure, Barclays
Speakers:
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Adam Nunes, Head of Risk and Compliance, Hudson River Trading
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Jonah Platt, Managing Director, US Head of Government & Regulatory Policy, Citadel
5:10 p.m. – 5:15 p.m.
Closing Remarks
Speaker:
Walt Lukken, President and CEO, FIA
5:15 p.m. – 6:45 p.m.
Networking Reception
6:45 p.m.
Forum Concludes
| FIA Member | $100 |
| Non Member | $150 |
| Government/Regulator | $50 |
This event is closed to press.
For group registrations, please contact memberservices@fia.org.
If you have issues registering, please contact memberservices@fia.org.
BNP Paribas Tower
787 7th Ave
9th Floor
New York, NY 10019
Cancellations/Substitutions
Notice of cancellations must be received in writing on or before October 1, 2024, and will be subject to a $50 administrative fee. No refunds will be processed after August 27, 2024. Substitutions / registration transfers may be made at any time without penalty. Please contact Member Services for cancellations or substitutions assistance.
COVID Protocols
FIA takes the health and wellbeing of event attendees and staff seriously. We ask that you do not travel to or attend the event if you have tested positive for Covid or have experienced any Covid symptoms in the last five days before the event. If you develop Covid symptoms or test positive for Covid during the event, we ask that you leave the event venue as soon as possible.
We encourage attendees to follow good hygiene practices, such as using hand sanitizer, which will be made available throughout the event venue, and washing hands regularly.
If you have questions regarding this policy, please contact memberservices@fia.org.
Privacy Policy
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This event is closed to the press.
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