The Advanced Course on Negotiating, Tailoring and Using the

2002 ISDAŽ Master Agreement

Monday, May 03, 2004

About

Do you know how to get the best possible terms for your derivatives transactions using the 2002 Master Agreement?

More and more companies are putting aside the 1992 version of the ISDAŽ Master Agreement in favor of the updated 2002 Master Agreement. Whether you're involved in forex, equity, credit or commodity derivatives, a full understanding of the revised terms of the 2002 Master Agreement and their implications is imperative before you use it.

American Conference Institute has developed this publication on Negotiating, Tailoring and Using the 2002 ISDAŽ Master Agreement to provide you with the knowledge and tools you need to get the most favorable outcome for your client. With a practical, hands-on focus, leading attorneys, negotiators and derivatives experts from Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC Capital Markets, Sempra Energy, Swiss Re Financial, UBS Investment; and the law firms of Jones Day, McDermott Will & Emery, Shearman & Sterling, Stroock & Stroock & Lavan, and Sutherland Asbill & Brennan LLP will give you a complete understanding of:

  • Key differences between the 1992 and 2002 Agreements
  • Which provisions you should adopt immediately - and which to avoid at all costs
  • When and whether to update your 1992 forms to the 2002 - will there be an updating protocol?
  • How to negotiate on behalf of specific entity types: end-users vs. dealers, insurance companies, hedge funds, Chapter 11 entities and others
  • The structure and mechanics of collateral and credit support under the new Agreement
  • What a guarantee should contain
  • How to tailor Schedules for non-standard entities
  • Using ISDAŽ for structured products
  • Netting: what to include and what to avoid

Contents & Contributors

About

Do you know how to get the best possible terms for your derivatives transactions using the 2002 Master Agreement?

More and more companies are putting aside the 1992 version of the ISDAŽ Master Agreement in favor of the updated 2002 Master Agreement. Whether you're involved in forex, equity, credit or commodity derivatives, a full understanding of the revised terms of the 2002 Master Agreement and their implications is imperative before you use it.

American Conference Institute has developed this publication on Negotiating, Tailoring and Using the 2002 ISDAŽ Master Agreement to provide you with the knowledge and tools you need to get the most favorable outcome for your client. With a practical, hands-on focus, leading attorneys, negotiators and derivatives experts from Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC Capital Markets, Sempra Energy, Swiss Re Financial, UBS Investment; and the law firms of Jones Day, McDermott Will & Emery, Shearman & Sterling, Stroock & Stroock & Lavan, and Sutherland Asbill & Brennan LLP will give you a complete understanding of:

  • Key differences between the 1992 and 2002 Agreements
  • Which provisions you should adopt immediately - and which to avoid at all costs
  • When and whether to update your 1992 forms to the 2002 - will there be an updating protocol?
  • How to negotiate on behalf of specific entity types: end-users vs. dealers, insurance companies, hedge funds, Chapter 11 entities and others
  • The structure and mechanics of collateral and credit support under the new Agreement
  • What a guarantee should contain
  • How to tailor Schedules for non-standard entities
  • Using ISDAŽ for structured products
  • Netting: what to include and what to avoid

Contents & Contributors

PRIMARY DISTINCTIONS BETWEEN THE 1992 AND THE 2002 ISDA MASTER AGREEMENT
Devi S. Koya, McDermott, Will & Emery

CROSS-DEFAULT PROVISIONS IN FINANCING AND DERIVATIVES TRANSACTIONS
Stephen Kruft, Swiss Re Financial Services Corporation

MINI-WORKSHOP: NEGOTIATIVE SCHEDULES
Stephen Baum, JPMorgan Chase Bank
Donald Caiazza, Bank of America
Mildred Carrillo, ABN AMRO Bank N.V.
Stephen Kruft, Swiss Re Financial Services Corporation
Debra Meyn, Goldman, Sachs & Co.
Laura Schisgall, ABN AMRO Bank N.V.
Sherri Venokur, Stroock & Stroock & Lavan

FORCE MAJEURE: 2002 ISDA MASTER AGREEMENT
Kianga Ellis, Goldman, Sachs & Co.

CLOSE-OUT AMOUNT: MAKING IT WORK FOR YOUR TRANSACTION
Marvin Goldstein, Stroock & Stroock & Lavan

"COLLATERAL & CREDIT SUPPORT" GENERAL INFORMATION
Candace Barrett, Transaction Services Group, RBC Capital Markets

NEGOTIATING THE CREDIT SUPPORT ANNEX (CSA)--ARMS CONTROL FOR "FINANCIAL INSTRUMENTS OF MASS DESTRUCTION"
Warren Davis, Sutherland, Asbill & Brennan

NOTES ON COLLATERAL AND CREDIT SUPPORT MECHANICS OF THE 1994 ISDA NEW YORK LAW CREDIT SUPPORT ANNEX
RC Whitehead, Bear Stearns & Co., Inc.

PRACTICAL EXERCISE: COLLATERAL AND CREDIT SUPPORT
RC Whitehead, Bear Stearns & Co., Inc.

PRACTICAL EXERCISE: COLLATERAL AND CREDIT SUPPORT
Todd Lurie, Swiss Re Financial Services Corporation

GUARANTEES
Stephen Kruft, Swiss Re Financial Services Corporation

"FINANCIAL GUARANTY" INSURANCE PRODUCTS AS CREDIT SUPPORT
Suresh Krishnan, ACE Financial Solutions, Inc.

NETTING FOR RISK-BASED CAPITAL PURPOSES
Sharmini Mahendran, Morgan Stanley

CLOSE-OUT AMOUNT UNDER THE 2002 ISDA
Micheal Mask, UBS Bank

TERMINATING & CLOSING-OUT DERIVATIVE TRANSACTIONS WITH BANKRUPTCY DEBTORS
Wilbur Foster, Milbank, Tweed, Hadley & McCloy LLP



DOCUMENT TYPES: PRESENTATIONS AVAILABLE: 0