Date: May 15, 2012
Alphabet Soup: MFG, LSOC & GCP - Counterparty Risk in the Wake of MF Global
The facts surrounding MF Global’s (MFG) downfall will not be known for some time, but the MFG event, coupled with the search for an acceptable collateral mechanism for cleared swaps, raises a number of critical issues. John W. McPartland and Christopher Pesch will discuss the role of Futures Commission Merchants (FCMs), the forms of collateral used in futures exchanges worldwide, their implications for the markets, the profitability of FCMs, and the appropriate customer segregation. The speakers will also examine the relevancy of the proposed Legally Segregated Operationally Comingled (LSOC) collateral mechanism for cleared swaps to the rest of the futures market and explore the implications for the rise of Guaranteed Clearing Participants (GCP).
Note: Special thanks to our meeting Host, Bosch Software Innovations
Illinois Institute of Technology, Downtown Campus, Stuart School of Business
565 West Adams, Chicago, Illinois 60661
John W. McPartland, Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago
Christopher Pesch, Shareholder, Polsinelli Shughart
4:00PM - 6:00PM
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Michelle McCarthy, Managing Director, Director of Risk Management, Nuveen Investments and Board of Trustees Member, Global Association of Risk Professionals (GARP) - Michelle.McCarthy@nuveen.com