Draft#5

International conference “Derivatives in Russia”

23 September 2008; London, United Kingdom

Organizers:

  • International Swaps and Derivatives Association (ISDA)
  • European Bank for Reconstruction and Development (EBRD)
  • Association of Russian Banks (ARB)
  • National Association of Securities Market Participants (NASMP)
  • National Foreign Exchange Associationof Russia(NFEA)

Venue:EBRD European Bank for Reconstruction and Development, One Exchange SquareLondonEC2A 2JN

Date:Tuesday September 23,2008

PROGRAM AGENDA
(agenda and speakers subject to change)
08:30 / Registration & Coffee welcome
9:00 – 9:10 / Opening and welcome addresses:
Alexei Timofeev,National Association of Securities Markets Participants (NAUFOR), Chairman of the Board
EBRD or ISDA senior representative
9:10 – 11:15 / Session I: LEGISLATIVE AND REGULATION PROSPECTSOF RUSSIAN DERIVATIVES MARKET
Moderator: EBRD
9:10 / Vladimir Milovidov, Head of Federal Service for Financial Markets (FSFM): Prospects of new legislation and regulation of derivatives market in Russian Federation developed by the Government.
9:30 / Dr. Peter Werner, ISDA International Swaps and Derivatives Association, Policy Director: Cross-border view on legislative development since 2001-2002
9:50 / Pavel Medvedev, State Duma of Russian Federation, Memberof the Committee on the Financial Markets(tbc):Legislative effortsof State Duma on Russian regarding financial markets and the derivatives
10:10 / Arkady Dvorkovich (Government) or Sergey Pakhomov (Moscow City Government, Head of Debt Aagency) or Liana Piepielyaeva (FSFM, Deputy Head)(tbc): Russia Financial Center Project
10:30 / Vladimir Chistyukhin,CBR Central Bank of Russia, Deputy Director of Banking Supervision department
Subject and speaker tbc
10:45 / Yuri Kormosh, ARB, Association of Russian Banks, Vice President: “New practices and prospects of Russian local legal proceedings in relation to derivatives transactions arbitration”
11:00 / Vladimir Khrenov, Lehman Brothers, General Counsel for Russia and CIS:Confirmed NFEA
Development of Russian Master Agreement for Derivatives as domestic analogue of ISDA 2002 Master Agreement: framework
11:15 -11:30 / Coffee Break
11:30-12:30 / Session 2. PANEL DISCUSSSION: discussion on the prospects of new legislation and regulation, the reform efforts that are currently being undertaken plus on those that need to be tackled going forward
Moderator: Joerg Bongartz (Deutsche Bank Moscow, Chairman of the Board, Co-Chairman of Derivatives Market Development Committee of ARB)
-FSFM speaker (tbc)
-Vladimir Chistyukhin (CBR Central Bank of Russia, Deputy Director of Banking Supervision department
-Peter Werner (ISDA, Policy Director)
-Yuri Kormosh (ARB Association of Russian Banks, Vice President)
-Sergei Avramov (BNP Paribas Moscow, Member of Management Board; Head of Legal, General Counsel of BNP Paribas Group in Russia)
-Speaker from international bank in London (tbc)
-Speaker from local Russian bank (tbc)
12:30 - 13:30 / Buffet lunch at EBRD(lunch speaker from EBRD tbc)
13:30-15:00 / Session 3. CURRENT STRUCTURE OF RUSSIAN DERIVATIVES MARKETS
Moderator: George Handjinocolau
13:30 / Dmitry Piskulov, NFEANational Foreign Exchange Association of Russia, Chairman of the Committee for Professionalism, Ethics and Education: Domestic OTC Derivatives Market Overview: results of NFEA 2008 Survey on Russian Banking Derivatives(confirmed)
13:50 / Igor Marich, MICEX Moscow Interbank Currency Exchange, Vice President: Role of MICEX Futures Section products(confirmed by D.Piskulov)
14:05 / Roman Goryunov, RTS Russian Trading System,President: Overview of RTS Futures Products
14:20 / Danny Corrigan, ICAP, Director International Business Development:
London or Moscow banks: OTC RUB derivatives activity overview(confirmed by D.Piskulov)
14:40 / George Handjinicolaou, ISDA: Financial industry efforts to create central clearing facility
15:00 -15:15 / Coffee Break
15:15-16:15 / Session 4. PANEL DISCUSSSION: what current structure Russian market has now and the reasons, various types of instruments being traded and developed, London (off-shore) versus Moscow (on-shore) operations; credit limits issue and how cross-border transactions can be increased, obstacles and hurdles for further markets development that still exist and should be removed
Moderator: Manfred Schepers, EBRD, Vice President, Finance
- Kirill Vergunov (CBR Central Bank of Russia, Head of Domestic Market Operations Department);
- Andrey Golikov (Sberbank, Member of the Board, Head of Treasury) - confirmed
- Alexey Khavin (Gazprombank, First Vice President, Head of Treasury)
- Yuri Denisov (VTB Bank, Head of Treasury) or Nikolay Kascheev(VTB bank, Senior Analyst) – confirmedNFEA
- Boris Bruck (Troika Dialog, Head of Treasury) –confirmed NFEA
- Kewin Sawle (HSBC, MD, Head of Regional Treasury)
- Speaker from international bank in London (tbc)
16:15 -16:30 / Coffee Break
16:30-17:00 / Concluding Panel: Summary and Q&A
Representatives from ARB, NFEA, NAUFOR,ISDA, EBRD: action points on day’s conclusions, summary, answer questions
17:00-18:00 / Cocktail Reception at EBRD (sponsored by ICAP)

Translation from Russian to English and vice-versa will be provided