Strategic Guidance for Implementation of and Compliance with the new Central Clearing Process

January 28, 2014 11:15am


Shahen Mirakian
McMillan LLP


Aaron Palmer
Blake, Cassels & Graydon LLP

Joe Varriano
Senior Legal Advisor
National Bank of Canada

Marco Petta
Managing Director Market Infrastructure
RBC Capital Markets

At the outset: What to look for

  • Availability of exemptions from clearing requirements
  • Operational and legal mechanics involved in central clearing
  • Contracts required to commence central clearing

Moving forward: Creating your action plan

  • Understanding the requirements and deadlines surrounding Dodd-Frank regulations
    • Mandatory clearing of swaps
  • Overcoming the operational and legal challenges involved in client on-boarding
  • Implementing processes and operational and management systems to ensure regulatory compliance
  • Assessing the top risk management considerations for different stakeholders:
    • compliance officers
    • buy-side
    • sell-side
    • clearing houses
    • regulators