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The
Alternative Reference Rates Committee (ARRC) announced in May 2021 it selected
CME Group as the administrator that it plans to recommend for a forward-looking
Secured Overnight Financing Rate (SOFR) term rate, once market indicators for
the term rate are met. The ARRC recommended term rate is referenced directly in
the ARRC fallback contract language and in the New York State Legislation. In
conjunction with its work towards a final recommendation of a SOFR term rate,
the ARRC also plans to recommend best practices for the use of the term rate,
including for example as a fallback rate for legacy cash products referencing
USD LIBOR and in new USD loans where the borrowers otherwise have difficulty in
adapting to the new environment.
Against this
background, TMA has invited Mr Ravi Pandit, Executive Director, FX and Interest
Rate Products, Asia Pacific, CME Group, to give a talk about the latest
developments of SOFR at 5-6pm on 10 August 2021 (Tue), with agenda as below. Since
this webinar would be useful to corporate treasurers preparing for the
transition after end-2021, TMA would extend the webinar invitation to all individual
members Free-of-Charge.
Agenda:
• Introduction to SOFR
• Progress of listed SOFR derivatives
• Use Cases
• CME SOFR Term Rate; methodology and use cases
• Libor Transition for ED futures and Options
Owing to limited
capacity of the conferencing system, priority of enrolment will be given on a“first-come-first-serve”basis.
To enroll, please click the Registration link or scan the QR Code to register on or before 5 August 2021 or until the quota is full (whichever applicable).
Online registration link:
https://docs.google.com/forms/d/e/1FAIpQLSdErHzpRaie7_A_PqXe-4gFjOoXkQm7UBDdRsGwWJSiLCksUg/viewform
Or scan this QR code to register:
Biography of
Speaker:
Mr RAVI
PANDIT
Executive
Director, Foreign Exchange and Interest Rate Products, Asia Pacific, CME Group
Ravi Pandit
serves as Executive Director, Foreign Exchange and Interest Rate Products, Asia
Pacific, for CME Group, based in Singapore. He is responsible for expanding CME
Group’s existing FX and interest rate business and developing new opportunities
across the region.
Pandit
joined CME Group in August 2015, and he has close to 30 years of experience in
the financial markets. Prior to joining
CME Group, Pandit was a consultant to Singapore Exchange, where he provided
strategic advice and project management for its launch of listed FX
futures. Before that, Pandit worked for
12 years in Dresdner Bank and subsequently Commerzbank post-merger, where he
headed up the local markets trading team, and helped build up its Asian
presence in interest rate and FX derivatives trading. Pandit also worked in various trading roles
at Barclays Bank, across Hong Kong, Singapore and Tokyo, and in operations
& technology at Citibank, across Hong Kong and Mumbai.
Pandit holds
a Masters degree in Chemical Engineering from Syracuse University and an MBA in
Finance from the University of California, Berkeley.
Participants
are entitled to receive 1 CPD (TMA) credit upon completion of the webinar. TMA
is the administrator for the Enhanced Competency Framework on Treasury Management
(ECF-TM) and a recognized institution of Securities and Futures Commission (SFC)
for providing continuing professional development (CPD) activities. The CPD
hours can be used to meet the CPD requirements of the ECF-TM and the SFC. To qualify for the CPD credit or attendance
certificate of the webinar, all participants have to show their registered full
names (same names in the registration form) for attendance check. We regret that
neither CPD nor attendance certificate will be given to those who are late for
the webinar or leave early. TMA Office will update TMA Individual Members’ CPD record
after the webinar is held.
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