Paul Watkins explains how central counterparty clearing works, and what it means for lawyers working with clients in the markets.

Attendees will come away with a good understanding of the legal concepts underpinning clearing, and the regulatory framework. They will be confident in tackling the agreements, advising buy-side or sell-side clients.

Paul is uniquely qualified to deliver the training: as Director in LCH’s Legal Department, at the very heart of the infrastructure, he was responsible for:

  • designing (and testing, through the Lehmans and MF Global defaults) many of the arrangements which have gone on to become market standard or regulatory requirements, and then
  • writing the rulebook for derivatives which led to LCH being authorised under EMIR.

Paul puts the notoriously abstruse clearing documentation into context, explaining the key issues in manageable modules, while covering the subject in detail. He is an engaging speaker and will illustrate the course with insights from his career.