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Last Updated: 4/29/2013

Third Public Policy Symposium

Friday, April 12, 2013


The Federal Reserve Bank of Chicago is pleased to announce that it will host 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, will provide the keynote address.


Please check back to this website for updates, including the agenda.




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
Randall S Kroszner, Norman S. Bobins Professor of Economics, University of Chicago School of Business
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
10:30 AM
Panel 2: Collateral Demands
Annette Vissing Jorgensen, Professor, Kellogg School of Management, Northwestern University
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
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
2:30 PM
Panel 3: Clearing Member Capital, Counterparty Exposure Limits and Guaranty Fund Contributions
Arvind Krishnamurthy, Harold L. Stuart Professor of Finance, Kellogg School of Management, Northwestern University
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

Hotel and Local Area Information

JW Marriott
151 W Adams St
Chicago ,  IL   60603
(877) 303-0104

Room rate: $289.00 plus tax

Reservations: Reserve online at the hotel's website.


Encounter a landmark downtown Chicago luxury hotel and experience the renowned architecture of Daniel Burnham and his vision for a luxury hotel in Chicago, Illinois. Located at LaSalle and Adams, this Chicago luxury hotel soars above skyscrapers in the heart of one of the world's most powerful financial districts.


With a $396 million restoration, the historic JW Marriott exudes Burnham's refined style combined with 21st century sensibility, providing downtown Chicago with a one-of-a-kind authentic destination. Unwind in 610 luxury hotel rooms or rejuvenate body and mind inside our world-class 20,000 sq. ft. spa and wellness center. As the epitome of refined elegance, the JW Marriott provides stunning domed-ceiling ballrooms and meeting venues for corporate gatherings or extravagant weddings and social soirees. Discover Daniel Burnham's foundation of excellence at the JW Marriott Chicago, and experience a premier luxury hotel in Chicago.

Event Information
Event Contact
Sandy Schneider

Registration Deadline
Monday, April 8, 2013

Federal Reserve Bank of Chicago
Third Floor Conference Center
230 S LaSalle St
Chicago, IL 60604


Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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