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2016 Program

Thursday, October 20, 2016 at 9:15 AM

T9:15A The Evolution of Settlement

Continental B
An often overlooked but contentious aspect of the trading life cycle, the settlement process plays a critical role in clearing and price discovery. A half-tick change in a settlement price can lead to the transfer of billions of dollars in variation margin. As with all aspects of the derivatives market, settlement processes have had to evolve to take into account the proliferation of electronic trading and central limit order books. But have they done so optimally? In this panel we will discuss the strengths and weaknesses of current settlement processes, the information available for settlement processes, and what the industry should do to improve the settlement process.


Kevin Foley, Partner, Katten Muchin Rosenman


Matthew Andresen, Co-Chief Executive Officer, Headlands Technologies
Trabue Bland, President, ICE Futures U.S.
Boudewijn Duinstra, Global Chief Risk Officer, ABN AMRO Clearing
Craig Pirrong, Professor of Finance, Bauer College of Business, University of Houston
David Yeres, Senior Counsel, Clifford Chance