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ICMA European Repo and Collateral Council (ERCC) General Meeting
 

Hosted by BondLend


Date: 27 September 2016
Time: 12.15-17.00
followed by a networking reception

Venue: 
L39
One Canada Square
Canary Wharf
London
E14 5AB


Event Overview

ICMA’s European Repo and Collateral Council (ERCC) represents the cross-border repo market in Europe.  A key role of ICMA’s ERCC has been to develop consensus solutions to issues arising in the European repo marketplace, consolidating and codifying best market practice and working to standardise repo documentation.  The ERCC General Meeting underpins the strong sense of community and common interest that characterises the professional repo market in Europe.    

The meeting provided a comprehensive update on the state of the European repo market, including recent regulatory developments, with an opening keynote speech by  Mark Yallop, Chair of the FICC Market Standards Board, on: “Regulation, Ethics and Standards in wholesale financial markets”.

Among the topics for discussion were:
  • the impact of regulatory and prudential requirements on the repo market
  • results of the latest ICMA ERCC survey of the European repo market
  • understanding CCP trade capture models
  • development of a pan-European repo index
  • repo markets in developing economies
The meeting also featured an expert panel on intra-day liquidity issues.

To view the presentations from the event, please click on the individual links below:-

Mr. Mark Yallop, Chairman, FICC Market Standards Board
Mr. Godfried De Vidts, Chairman, ICMA ERCC Committee
Ms. Lisa Cleary, Senior Director, Associate Counsel, ICMA
Mr. Alberto Lopez, Research and Benchmarks Development Officer, EMMI
Mr. Andy Hill, Senior Director, Market Practice and Regulatory Policy, ICMA
Mr. Richard Comotto, Senior Visiting Fellow, ICMA Centre - Reading University
Mr. Erik van Dijk, CFRO, Frontclear
Mr. John Burke, Consultant, ICMA
Mr. Michael Manna, Managing Director, Head of Fixed Income Financing EMEA, Barclays Capital Securities Limited
Mr. David Hiscock, Senior Director, Deputy Head, Market Practice and Regulatory Policy, ICMA
Mr. Alexander Westphal, Associate, Market Practice and Regulatory Policy, ICMA

The ERCC meeting was be hosted by BondLend, who held a briefing before the meeting on ‘The Changing Landscape of Fixed Income Finance’ which brought together a panel of experts to discuss fixed income finance, from market trends and regulatory impacts to the future state of the industry. 

Presentations and minutes given at previous ERCC general meetings and annual general meetings can be found here.

If you have any queries,  please email Gemma Fisher.

Hosted by BondLend



12.15
Registration

12.30
Panel: The Changing Landscape of Fixed Income Finance

Moderator:    
Mr. Tim Keenan, Global Product Owner, BondLend

Panellists:
Mr. Emmanuel Batail, Head of Securities Finance, Natixis AM Finance
Mr. Gregg Bromberg, Global Head of Secured Funding, Morgan Stanley
Mr. Stefan Demoulin, Managing Director, Co-Head Securities Lending and Financing, UBS Switzerland AG
Mr. Nick Hamilton, Executive Director, EMEA Fixed Income Operations, J.P. Morgan Corporate & Investment Bank
Mr. Andy Wise, Executive Director, Global Collateral Finance, CIBC World Markets plc

13.15
Lunch & registration for ICMA ERCC General Meeting

14.00
ICMA ERCC General Meeting

1.
Welcome

Mr. Martin Scheck
, Chief Executive of ICMA, will provide the opening address.

2.
Keynote speech

Mr. Mark Yallop, Chair of the FICC Market Standards Board, will provide the keynote speech: “Regulation, Ethics and Standards in wholesale financial markets”.

3.
Remarks by the Chairman of ICMA’s ERCC Committee

Mr. Godfried De Vidts, Chairman of ICMA’s ERCC Committee, will provide an overview of recent developments.

4.
Approval of the minutes of ICMA’s ERCC Annual General Meeting held on 27 January, 2016 in Luxembourg

The draft minutes to be approved can be found here.

5.
Legal update

Ms. Lisa Cleary will provide a legal update.

6.
Development of a new repo index

Mr. Alberto Lopez will provide an update about the work undertaken by the European Money Markets Institute (EMMI) in the development of a pan-European repo index.

7.
Corporate bond market study

Mr. Andy Hill will report on ICMA's recently published corporate bond market study.

8.
Results of the 31st semi-annual repo survey

Mr. Richard Comotto will report on the results of the latest semi-annual repo survey.

9.
Repo in developing markets

Mr. Richard Comotto will provide an update on repo in developing markets.

10.
Repo in practice

Mr. Erik van Dijk, CFRO of Frontclear, will discuss access to global financial markets in developing economies with the provision of counterparty credit risk guarantees to facilitate market access for local institutions.

11.
CCP trade capture

Mr. John Burke will provide an update on work being done to understand CCP trade capture models.

12.
Amendments to the Guide to Best Practice in the European repo market

Mr. Sylvain Bojic will provide an update on work to amend the Guide to Best Practice in the European repo market.

13.
Impact of regulation on repo

Mr. David Hiscock, Mr. Michael Manna and Mr. Alexander Westphal will discuss the wide range of regulatory initiatives coming out of Basel, Brussels, Paris, Frankfurt and London and their likely impact on the repo market.

14.
Panel: Liquidity - taking stock of the debate

Moderator:
Mr. Godfried De Vidts, Chairman of ICMA’s ERCC Committee

Panellists:       
Mr. Romain Dumas, Managing Director, Credit Suisse
Mr. Nicola Danese, Managing Director, Head of EMEA Fixed Income Financing, JP Morgan
Mr. Phil McCabe, Head of Collateral Management, Bloomberg L.P.

15.
Any other business and next meetings

17.00
Networking reception
 
18.00
Close




Please note that this programme is subject to change.