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ICMA European Repo and Collateral Council Annual General Meeting
 
Hosted by BNY Mellon



Date and Venue

Date: 14 March 2018
Time: 12.30 - 18.00

Venue:
The Fishmongers' Company
Fishmongers’ Hall
London Bridge
London EC4R 9EL

 

Event Overview


The ICMA European Repo and Collateral Council (ERCC) is the industry representative body that fashions consensus solutions to emerging, practical issues that can develop in the rapidly evolving European repo market. 

The ERCC Annual General Meeting (AGM) provided good opportunity to hear about the various issues that the market is currently facing and the steps being taken to address these. Key issues covered at the AGM this March included:
  • Legal developments: Recent work related to the evolution of the GMRA
  • Conditions in the European Repo Market: The Repo market at year-end 2017 & results of the latest European Repo Survey
  • Panel discussion: Unlocking the value of T2S
Attendees also received updates on the latest developments in Repo regulation, operations and market best practices.

Prior to the ERCC AGM, BNY Mellon hosted a panel discussing important topics facing the securities finance industry in 2018. Discussion points included Brexit, CCP vs Pledge, and the use of technology how are we adopting the use of technology to help make our businesses more efficient.

To download the presentations from the event, please click here.

To view the meeting summary,
please click here.

To view photos from this event, please click here.


Wednesday, 14 March 2018 

12.30   
Registration and Lunch
13.00
BNY Panel discussion on recent market developments in the securities finance industry

Moderator: Brian Staunton, Managing Director Collateral Management, BNY Mellon Markets
Panellists:
Mr. Matt Collins, Managing Director & EMEA Head of Securities Lending, Morgan Stanley
Mr. Jonathan Lombardo, SVP, Global Funding & Financing Sales, Deutsche Boerse Group
Mr. James Day, Head of Securities Finance EMEA, BNY Mellon Markets
Ms. Jen Grenside, International Head of Equity Financial Resource Management, Citi
14.00
Coffee Break
14.30



































1. Welcome 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.

 2. Legal update
Ms. Lisa Cleary
, Senior Director, ICMA, will update members on the recent legal developments in the European Repo market, including:
- GMRA legal opinions and plans to discontinue coverage of the 1995 GMRA
- Ongoing work on Repo Pledge documentation
- Implications of Brexit for the GMRA

3. Results of the 34th semi-annual repo survey

4. Repo market update: Conditions at year-end 2017
Mr. Andy Hill, Senior Director, ICMA, will present the key findings from a short ERCC study on the conditions in the European Repo market around year-end 2017.

5. The Guide to Best Practice in the European repo market
Mr. David Hiscock, Senior Director, ICMA, will introduce an updated version of the ERCC Guide to Best Practice in the European repo market, published on 18 December 2017.

6. Regulatory update
Mr. David Hiscock
, Senior Director, ICMA, will provide an update on the recent regulatory developments impacting the Repo Market.

7. ERCC Operations Group Update
Mr. Nicholas Hamilton
, Co-Chair of the ERCC Operations Group, will provide an update on the work of the ERCC Operations Group over the past months to help streamline repo operations and tackle upcoming regulatory challenges.

8. Panel: Unlocking the value of T2S
Moderator: Ms. Gesa Benda, Head of Collateral Management Product, BNY Mellon
Panellists:
Mr. Adam Bate, Executive Director, Bank Resource Management, Morgan Stanley
Mr. Nicola Danese, Managing Director, JP Morgan
Mr. Michael Manna, Head of Fixed Income Financing Trading, EMEA & Asia Pacific, Barclays
Mr. Marcello Topa, Director, EMEA Market Policy & Strategy, Citi
Mr. Jean-Robert Wilkin, Executive Director, Head of Market Development, Clearstream

9. Any other business and next meetings


17.00
Drink Reception
18.00 Event Close

Please note, this agenda is subject to change


Panel 3: Illiquid versus liquid investments