The Rights of Derivative Products

Documentation of the derivatives operations and applicable legal framework

Course objectives

  • Master the regulatory context of derivatives
  • Know the main principles governing the contracts and their application
  • Understand the negotiation issues of the ISDA and FBF framework convention

Legal and regulatory framework applicable to derivative products. The regulation applicable to financial contracts from direct selling to termination

  • Definition of financial contracts:
    • Interest rates
    • Exchange *Raw materials
  • Plays capacity to conclude on derivative products
  • Direct selling
  • Regulation applicable to marketing
  • Termination of financial contracts

The recent modifications in the legal and regulatory framework

  • The Dodd Franck Act in the USA
  • The EMIR regulation
  • The MiFID revision project
  • CRD IV

Case Study: Analysis of a client profile(KYC)

French and European scheme of the financial guarantee

  • The provisions of Articles L.211-38 and following of the Monetary and Financial Code

Analysis of framework agreements. Overview of the derivatives framework agreements

  • Presentation of the contractual structure
  • The application of the netting on derivative products operations
  • Textual analysis of the key conventions and analysis

Analysis of the main clauses of the framework conventions FBF 2013 and FBF 2007

  • The contributions of the new framework agreement FBF 2013
  • Comparative presentation of framework-conventions FBF 2013 / FBF 2007 / FBF 2001/1994 LBS
  • Analysis of conventions - ISDA 1992 and ISDA 2002
  • Analysis of the Schedule 1992 of ISDA Master Agreement
  • Overview the changes made in the 2002 ISDA Master Agreement

General principles of the documentation of derivatives collateralization

  • Main terms of the documentation of the ISDA collateralization
  • Main clauses of the annex collateral FBF

EMIR and Dodd Franck. The applicable documentation to the compensation of derivative products by a clearing house

  • Overview of the cleaning cycle
  • Presentation of the documentation that may govern the offset derivatives

Clément Saudo

Clément Saudo

Clement is an attorney with the law firm Gide Loyrette Nouel. He intervenes in the negotiation of agreements for financial futures including on FBF and ISDA, on operations of credit derivatives, on litigation related to derivatives and more generally on post-market issues and on the rules governing the organisation of banking or financial actors.

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