Middle & Back Office

About the Course

Acquiring insight and knowledge of:

  • Types of contracts
  • Contract specifications
  • Legal documentation
  • Documenting specific situations
  • Master agreements, legal frameworks
  • The working of ISDA, EFET and IETA contracts
  • Fall back procedures
  • Force majeure claims
  • Credit support arrangements
  • Insolvency and close-out netting

Course Contents

Introduction to master agreements

  • To provide the basics and explain what is covered
  • General provisions versus commercial terms

Contents of legal frameworks

  • About rights & obligations
  • Payment due dates, business days, timetables

Types of master agreements

  • About ISDA, EFET, GTMA, IETA and SCoTA frameworks
  • Terms of Trading

Confirmation process

  • About deal confirmation and automized processes
  • Confirmation process & confirmation officers in the back office

Settlement process

  • Delivery, invoicing and payment, including nomination process
  • Physical delivery contracts and cash settlement contracts

Netting

  • About bilateral netting, multilateral netting & close-out netting
  • Including exposure netting & payment netting

Defaults

  • What are termination processes? When can these occur?
  • When can force majeure be claimed? What does it concern?

Credit support annex

  • About amendments to master agreements such as CSAs
  • Including collateralisation

Exam & Certification


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