Credit Derivatives and Structured Credit
Credit Derivatives and structured credit
This one day intermediate to advanced level workshop aims to provide participants with an understanding of the credit derivatives market and its place in the market as a whole.
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Program Outline
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Program Summary
| TITLE: | Credit Derivatives and Structured Credit |
| CE: | 6.5hrs |
| FEE: |
Member - $1,210.00 including GST Non Member - $1,430.00 including GST |
|
Sydney Sept 25, 2012 |
|
9:00am - 5:00pm |
About the Speaker
Andrew Palmer
Andrew Palmer was involved in the development of the credit derivatives market from its infancy and was directly influential in all aspects of the market's growth, including the structure of the first credit default swaps to the shape and form of various indices, as well as the structure and trading of tranches.
Over a long career with JP Morgan in both New York and London, Andrew was central to the creation of trading and settlement protocols as well as advancements in documentation and regulatory capital treatment for credit derivatives. He was at the centre of the market through its rapid expansion as well as the turbulent times of the global credit crisis.
Andrew joined JP Morgan in New York in 1995 and was immediately involved in this nascent market. By the early 2000s JP Morgan was the clear market leader in the credit derivatives market. At the time, Andrew was Head of Distribution and Structuring for the bank. In that capacity he drove the creation of the CDX and iTRAX indices as well as the development of the tranched credit derivatives market and all the protocols and regulations around it.
Andrew moved on to become the CEO of Scotia Capital Europe before retiring to Australia in 2009.
Andrew is now a Visiting Fellow at Macquarie University (Sydney) and Tsinghau University (Beijing). He occasional writes articles for the Australian Financial Review and has become a Governor of the Steve Waugh Foundation
Andrew holds a degree in Bachelor of Economics (Honours) from University of Wales (UK), Masters in Economics from University of Western Australia as well as an MBA from Columbia University (USA).
About this program
The recent turbulent events in the global financial markets and the role of credit derivatives in what occurred have changed the face of both the market as a whole, specifically the credit derivatives market.
This workshop will look at the theory behind the market, the structure, terms and conditions, pricing as well as trading and hedging approaches to credit derivatives from simple credit default swaps to complex correlation trading.
The workshop will also look at how the market has changed in recent times since the Global Financial Crisis. It will also examine past mistakes and speculate where the market is heading and where opportunities may lie going forward. The workshop will incorporate a practical element as well as real life case studies in helping participants understand the credit derivatives market.
What will you learn?
This workshop will cover the following:
- Recap of credit derivatives
- Credit default swaps and indices - structure, features and key documentation, regulatory issues;
- Pricing and trading credit derivatives - vanilla market;
- Pricing valuation and hedging issues;
- Correlation trading - understanding the structure, terms and conditions of tranched credit derivatives, why the market developed and outlook for the future going forward;
- Where to from here - a practical analysis of the market history and practitioner view of the market moving forward
- Case studies - review of credit events and market upheaval.
Testimonials
Relevant content and a strong presenter.
The workshop was very good and informative.
Andrew Palmer was a real highlight.