Course Overview

This course offers an in-depth study of the ISDA Master Agreement and its credit support annex, including an introduction to OTC derivatives, an analysis of the most important and the most negotiated clauses, and the negotiation process.

Who should enrol?

This is a Basic to Advanced Course.

  • Back Office Staff

  • Audit staff

  • Company Secretaries

  • Complaince Teams

  • Credit, Legal and Senior Dealers

Topics covered

  • An introduction to OTC Derivatives

  • The purpose of the ISDA Master Agreement

  • The ISDA Documentation Structure

  • An analysis of the most important and the most negotiated clauses

  • The commonly negotiated clauses and the negotiation process

Course curriculum

    1. Overview | Topics covered and Extra resources

    2. An introduction to the ISDA Master Agreement

    1. Lesson 1 | An introduction to over the counter (OTC) derivatives

    2. Lesson 2 | Forwards

    3. Lesson 3 | Swaps

    4. Lesson 4 | Options and Option Styles

    5. Lesson 5 | Caps and Floors and Collars

    1. Lesson 1 | Who is ISDA?

    2. Lesson 2 | The Purpose of ISDA

    3. Lesson 3 | Close out Netting Summary (Source: ISDA Website)

    4. Lesson 4 | Gross Vs Nett Exposure

    5. Lesson 5 | Why we need ISDA

    6. Lesson 6 | Agency ISDA

    7. Lesson 7 | Legal Risk Management

    8. Lesson 8 | Compliance Risk Management

    9. Lesson 9 | Operational Risk Management

    1. Lesson 1 | Credit Risk Management Overview

    2. Lesson 2 | Default to Pay or Deliver

    3. Lesson 3 | Credit Support Default

    4. Lesson 4 | Cross Default

    5. Lesson 5 | Bankruptcy and Insolvency

    6. Lesson 6 | Termination Events

    7. Lesson 7 | Credit Support Annex (CSA)

    8. Lesson 8 | Initial & Variation Margin

    9. Lesson 9 | Operational risk management

    10. Lesson 10 | ISDA Architecture

    11. Lesson 11 | The ISDA Schedule and Confirmation

    1. Lesson 1 | Termination Provisions Part 1

    2. Lesson 2 | Miscellaneous Termination Provisions Part 4

    3. Lesson 4 | The Negotiation Process

    4. Lesson 5 | The ISDA Website

    5. Lesson 6 | A mock Negotiation

    1. Congrats! Heres's what's next...

    2. Before you go...

About this course

  • 34 lessons
  • 10.5 hours of video content

Instructor

Who you will learn with

Paul Clifton

Course Director

Paul is a lawyer who specialises in Derivatives, Derivatives Law, Derivatives Documentation, and Derivatives Regulatory. His company, provides legal, structuring and operational advice in relation to over-the-counter derivatives and exchange traded products to users of derivatives. Paul had done this for investment banks as an in-house lawyer for over sixteen years (five years in London and eleven years in Johannesburg). He is currently Head of Legal for Global Markets for one of South Africa’s big 4 banks where he’s Responsible for the full legal support of the banks Global Markets business across all asset classes and regions (including the UK and Africa).

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