Program

This intensive morning program includes regulatory insights, an overview of industry-recommended best practices, and a discussion of market implications.

8:00 - 8:30am	Registration and Continental Breakfast
8:30 - 9:15am	Keynote Speaker: Gary Gensler Co-Chair of the IOSCO Board Level Task Force on Financial Benchmarks and Chairman of the US Commodity Futures Trading Commission (CFTC) IOSCO has recently sought views on possible measures to overhaul the setting and governance of benchmark rates; the deadline for comment was 11 February. Mr. Gensler will address our audience shortly after a public roundtable on IOSCO's "Financial Benchmarks" Consultation Report and in advance of IOSCO's guidance, expected this spring.
9:15 - 10:00am	Industry Best Practices: GFMA's Principles on Financial Benchmarks Given the importance of benchmarks in the financial system, GFMA coordinated financial institutions across the globe to develop best practices for financial benchmarks. GFMA encourages international regulators to utilize these Principles as a basis for crafting uniform international standards. The panelists will provide: A synopsis of recent regulatory reviews and initiatives An overview of GFMA's Principles The industry's views on benchmark regulation and governance MODERATOR: Randy Snook Executive Vice President SIFMA PANELISTS: Jim Rosenthal Chief Operating Officer Morgan Stanley Susan Krause Bell Managing Director Promontory Financial Group Anthony Murphy Managing Director Promontory Financial Group
10:00 - 11:00am	Panel Discussion: Market Implications of Industry and Regulatory Actions Financial benchmarks have a significant impact on global market activity. Certain benchmarks are widely used as reference points for determining payments made on at least $750 trillion worth of financial products, including mortgages and student loans. They also set the prices of a significant number of derivatives contracts. In this panel, benchmark sponsors, users, calculation agents and other market participants will discuss the practical implications of recent regulatory and industry actions. MODERATOR: Martin Dickson US Managing Editor Financial Times PANELISTS: Gary Chan Managing Director and Head of Fixed Income DTCC Harry Lipman Global Product Head Bloomberg OTC Derivatives Peter Moss Managing Director, Trading Thomson Reuters Sam Priyadarshi Head, Fixed Income Derivatives The Vanguard Group James Wallin Senior Administrative Officer, Fixed Income Alliance Bernstein