Last Updated:
4/29/2013
Third Public Policy Symposium
The Federal Reserve Bank of Chicago hosted the third in its public policy symposium series on over-the-counter (OTC) derivatives clearing in Chicago on Friday, April 12, 2013.
This event is organized by the Federal Reserve Bank of Chicago and Professor Darrell Duffie of Stanford University and will address policy issues related to the design, operation, and regulation of central clearing parties (CCPs). Paul Swann, President and Managing Director of ICE Clear Europe, provided the keynote address.Friday, 04/12/13
7:30 AM
Registration and Continental Breakfast
8:20 AM
Welcoming Remarks
Gordon Werkema, First Vice President, Federal Reserve Bank of Chicago
8:30 AM
Panel 1: CCP Default Management
Moderator
Randall S Kroszner, Norman S. Bobins Professor of Economics, University of Chicago School of Business
Panelists
Seth Grosshandler, Partner, Cleary Gottlieb Steen & Hamilton LLP
Daniel Maguire, Head of SwapClear U.S., LCH.Clearnet
Ketan Patel, Co-head of Risk Management, Hong Kong Exchanges and Clearing Limited
Supurna VedBrat, Managing Director, Co-head Electronic Trading & Market Structure, BlackRock
Penfield Starke, Federal Deposit Insurance Corporation
10:00 AM
Break
10:30 AM
Panel 2: Collateral Demands
Moderator
Annette Vissing Jorgensen, Professor, Kellogg School of Management, Northwestern University
Panelists
Randall Costa, Managing Director, Citadel Investment Group
Godfried De Vidts, Director of European Affairs, ICAP plc, and Chairman, European Repo Council
Robert Pickel, Chief Executive Officer, International Swaps and Derivatives Association, Inc.
Filip Zikes, Bank of England
11:45 AM
Lunch
12:45 PM
Keynote Speech
Chris Edmonds, President, ICE Clear Credit
1:40 PM
Default Management Auctions
Jeremy Bulow, Richard A. Stepp Professor of Economics, Stanford Graduate School of Business and Senior Fellow, Stanford Institute for Economic Policy Research
2:30 PM
Break
2:30 PM
Panel 3: Clearing Member Capital, Counterparty Exposure Limits and Guaranty Fund Contributions
Moderator
Arvind Krishnamurthy, Harold L. Stuart Professor of Finance, Kellogg School of Management, Northwestern University
Panelists
Sean Campbell, Deputy Associate Director, Division of Research and Statistics, Board of Governors of the Federal Reserve System
Alessandro Cocco, Managing Director and Associate General Counsel, J.P. Morgan Representative from CME Clearing House Division
Kim Taylor, President, CME Clearing
Mark E White, Senior Vice President, Capital Management & Optimization, Bank of Montreal
