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Expo 2017 Program

October 17-19, 2017 // Hilton Chicago // Chicago, Illinois


Thursday, October 19, 2017 at 1:00 PM

Liquidity at the CCP

Continental A

While significant regulatory focus has been placed on CCP capital and margining requirements, arguably less focus has been on ensuring CCPs have sufficient liquidity in stressed market environments. This is a particular concern since CCPs are likely to hold large amounts of collateral that may or may not be liquid in a stressed market. This session will provide an overview of how clearing members ensure sufficient liquidity obligations are met and how CCPs approach liquidity risk, including how liquidity has been used to deal with counterparty credit and default risk. Panelists will also debate whether CCPs have sufficient liquidity to meet their obligations in a timely manner and the role of central bank liquidity facilities.

Chair:

Robert Cox, Vice President & Senior Policy Advisor, Financial Markets, Federal Reserve Bank of Chicago

Speakers:

Lee Betsill, Managing Director, Chief Risk Officer, CME Group
Thomas Gillis, Managing Director, Wells Fargo
Gareth Jones, Chief Operating Officer, DTCC-Euroclear Global Collateral
Ketan Patel, Head of Group Credit and Quantitative Analysis & Deputy Group Head of Risk Management, Hong Kong Exchanges and Clearing
Chris Perkins, Global Head of OTC Clearing, Citigroup Global Markets