To
ensure we meet your expectations and maximise your return on training
investment, we favour a classroom/workshop set up for the delivery of our
courses. Please note we have therefore limited number of spaces available and
these will be assigned on a first come, first accepted basis. We recommend
early booking to avoid disappointment.
Includes a case-study and practical negotiation exercises
How will you benefit?
The recent financial turmoil has highlighted how essential
it is for financial institutions to undertake a much more considered and
detailed analysis of repo and securities lending transactions. It is imperative
to understand the market features and risks in order to be able to handle documentation
issues appropriately.
This timely course will provide delegates with a detailed
overview of the provisions of the main agreement used The TBMA/ISMA Global
Master Repurchase Agreement (2000) and Annexes (GMRA). It
will additionally cover securities lending documentation, tri-party custody agreements
and risks involved. A case study and practical negotiation exercises will
enable delegates to put into practice the knowledge gained throughout the
course.
Understand the
nature and uses of repo and securities lending products, risks and legal issues
Comprehend the differences between repos and securities
loans
Review in depth the
TBMA/ISMA GMRA (2000) and the 2009 and 2010 changes to the GMSLA
Explore other provisions to consider and tri-party
custody arrangements
Translate theory
into hands-on techniques through a case study and two practical negotiation
exercises
About your expert trainer:
Robin Powers is a member of the Corporate Practice Group at Sutherland Asbill
and Brennan. Her focus is financial transactions entered into by hedge funds
and other financial institutions, with an emphasis on derivatives, prime brokerage
and securities lending agreements.
Robin has extensive experience negotiating and documenting
master agreements, master repurchase agreements, collateral and other credit
support documents, prime brokerage agreements, and securities lending
agreements.
She assists clients in their various transactional
activities including documentation of structured transactions, credit default
swaps, equity derivative transactions, interest rate swaps, asset swaps, total
return swaps and currency transactions. She also has developed master
confirmations for various derivative products. Robin has experience in
structuring and organizing domestic and offshore investment funds including the
design, structure and operation of investment portfolios. She also provides
ongoing advice to investment advisory clients relating to their investment
products and services and trading issues. Robin further assists both investment
fund and investment advisory clients in the negotiation and documentation of
agreements with service providers including administrators, data and electronic
trading service providers, auditors, and prime brokers. Robin received her JD
in 1995 from Fordham University School of Law and her MBA in 1985 from New York University.
Thomas C. McHugh serves as a Managing Director and Head of the financing desk
for The PrinceRidge Group LLC, a registered broker dealer in New York City.. Mr. McHugh manages the firms
high-grade MBS, ABS, CMBS, and corporate bond funding books. Thomass
responsibilities include: trading and structuring all liabilities; oversight of
the trade margining and exposure to counterparties; coordination of trade
settlements; cash management; and maintaining the trading and credit
relationships with the broker dealer community. Mr. McHugh is also instrumental
in the negotiations of the credit terms within all trading agreements. Prior to
joining PrinceRidge, Mr. McHugh co-founded Triton Funding Partners and managed
all short-term fixed income repo trading for the firm. Prior to that, he served
as the Head of Liability trading at Highland Financial Holdings Group, a
relative value fixed income hedge fund located in Manhattan, NY. Mr. McHugh managed the funds $12.2 Bln highgrade
MBS, ABS, and CMBS funding books while at Highland. Tom was a Director at Highland from 2001 to 2009. Thomas began
is career in 1999 with Morgan Stanley & Co. as an analyst on the municipal
bond trading desk in both the NYC and San Francisco offices. He graduated from Lycoming College with a BA in Business
Administration and Economics in 1999.
Pre-course questionnaire:
A detailed questionnaire will be sent to all course participants to
establish exactly where the group training needs lie. The completed forms will
be analysed by the course leader/trainer and followed by telephone if further
clarification is required. As a result we can guarantee that the course is
pitched at exactly the right level and that the issues that you regard as
relevant are addressed. The course material will reflect these issues and will
enable you to digest the subject matter after the event in your own time.
Who should attend?
From Financial Institutions, Investment Banks, Investment Houses,
Hedge Funds, Corporations, Legal Firms, Consultancy Groups and Regulators: Practitioners
in legal, compliance, documentation and trading roles:
Repo & Money Markets
Capital Markets
Collateral Management
Securities Lending
Treasury
Equity, Bond & Securities Financing
Fund Management
Clearing & Settlement
Middle Office & Back Office
