The Securities and Exchange Commission and Commodity Futures Trading Commission staffs will hold a public roundtable on October 22 from 9 a.m. to noon to discuss issues related to the clearing of credit default swaps.
The roundtable is intended to assist both agencies in the rulemaking process to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Major agenda items are as follows:
Session on Products and Processing:
- Characteristics of credit derivatives, including corporate index and single name CDS and other credit derivatives.
- Standardization, eligibility for clearing, and pricing issues.
- Operational issues, including credit event processing.
- Reporting to trade repositories.
Session on Clearing Initiatives
- Current products offered for clearing.
- Prospective products offered for clearing.
- Risk management practices, including access to price information, clearing member default management, and management of jump-to-default risk.
- Effect of clearing mandates.