2013 Oxford Columbia Conference: Derivatives Regulation After the Crisis

Events

Past Event

2013 Oxford Columbia Conference: Derivatives Regulation After the Crisis

June 21, 2013 - June 22, 2013
8:30 AM - 12:30 PM
University of Oxford

Jointly organized by the University of Oxford and Columbia University, this conference will focus on derivatives regulation through seven sessions: mapping the post-crisis landscape, CCPs and systemic risk, anatomy of the CDS market, clearinghouses, debt, Dodd-Frank, and the Big Bang Protocol and Libor.

Featuring

  • Robert Cook (Partner, Cleary Gottlieb Steen & Hamilton LLP; Director, Division of Trading and Markets, U.S. Securities and Exchange Commission (2010 - 2012))
  • Hannah Rayner (European Commission)
  • Larry Thompson (Managing Director and General Counsel, The Depository Trust & Clearing Corporation)

Session 1: Derivatives: Mapping the Post-Crisis Landscape (roundtable discussion)

  • Larry Thompson (Managing Director and General Counsel, The Depository Trust & Clearing Corporation)
  • Hannah Rayner (European Commission)
  • Ed Murray (Consultant, Allen & Overy LLP)
  • Robert Cook (Partner, Cleary Gottlieb Steen & Hamilton LLP; Director, Division of Trading and Markets, U.S. Securities and Exchange Commission (2010 - 2012))

Session 2: A Bill of Goods: CCPs and Systemic Risk

Presenter: Craig Pirrong (Professor of Finance, Bauer College of Business, University of Houston)

Discussants: Christian Johnson (Professor of Law, University of Utah) and Richard Squire (Professor of Law, Fordham University)

Session 3: The Anatomy of the CDS Market

Presenter: Adam Zawadoski (Assistant Professor of Finance, Boston University School of Management)

Discussants: Merritt Fox (Michael E. Patterson Professor of Law, Columbia Law School) and Lawrence Glosten (S. Sloan Colt Professor of Banking and International Finance, Columbia Business School)

Session 4: The Speed and Certainty Benefits of a Clearing House in a Financial Crisis

Presenter: Richard Squire (Professor of Law, Fordham Law School)

Discussants: John Armour (Hogan Lovells Professor of Law & Finance, Oxford Universtiy) and Craig Pirrong (Professor of Finance, Bauer College of Business, University of Houston)

Session 5: Debt, "Debt Governance," and the Decoupling Framework: "Empty Creditors," "Hidden Non-Interests," and the Matter of Evidence

Presenter: Henry Hu (Allan Shivers Chair in the Law of Banking and Finance, University of Texas Law School)

  • Paper: Professor Hu will release his work-in-progress in the future.

Discussants: Alan Morrison (Professor of Finance, Oxford University) and Dan Awrey (University Lecturer in Law and Finance, Oxford University)

Session 6: Issues in Extraterritorial Application of Dodd-Frank's Derivatives Rules: Update with Focus on OTC Derivatives and Clearing Requirements

Presenter: Edward F. Greene (Senior Counsel, Cleary Gottlieb Steen & Hamilton LLP; Senior Research Scholar and Lecturer-in-Law, Columbia Law School) and Ilona Potiha (Associate, Ropes & Gray LLP)

Discussants: Ed Murray (Consultant, Allen & Overy LLP) and Robert Cook (Partner, Cleary Gottlieb Steen & Hamilton LLP; Director of the Division of Trading and Markets, Securities Exchange Commission (2010 - 2012))

Session 7: Hardwired Conflicts: The Big Bang Protocol, Libor and the Paradox of Private Ordering

Presenter: Dan Awrey (University Lecturer in Law & Finance, University of Oxford)

Discussants: Sean Griffith (T.J. Maloney Chair in Business Law, Fordham Law School) and David Benton (Partner, Allen & Overy LLP)