30th Annual Conference on Securities Lending Summary & Presentations

30th Annual Conference on Securities Lending Summary & Presentations

RMA’s Annual Conference on Securities Lending was held in Boca Raton, Florida at the Boca Raton Resort and Club on October 14–17, 2013. The conference was well-attended, with approximately 450 securities lending and borrowing professionals from across the industry.

On Tuesday, October 15, RMA hosted an update on Latin American Markets. The discussion also included Brazil, Columbia, Chile and Mexican markets as well as the issues facing agent lenders, borrowers, and beneficial owners. The discussion was led by Jason Gruhot, Director, Citi with additional speakers Carey Chamberlain, Head of Equity Finance, HSBC Securities Inc, James Gerspach, Executive Director, J.P. Morgan, Tony Kim, Executive Director, Morgan Stanley, Jill Rathgeber, Managing Director, BNY Mellon, and Julio Carlos Ziegelmann, Managing Director Equity Products, BM&FBOVESPA.

During the Legal and Regulatory Roundtable, Greg Lyons, Partner, Debevoise & Plimpton LLP and Bruce McDougal, Chair of the RMA Securities Lending Legal, Tax and Regulatory subcommittee and Director, Blackrock gave the audience updates on current issues such as: Capital / Basel III including the Supplemental Leverage Ratio, Liquidity, Counterparty Credit Risk Management including the Single Counterparty Credit Limits, FBO Rules, FSB Shadow Banking and The Volcker Rule.

During Wednesday's general session, “The Future of Securities Finance”, moderator Christopher Kunkle, Managing Director, Wells Fargo and panelists Keith Haberlin, Managing Director, Brown Brothers Harriman, David Murphy, Managing Director, Citi, James Slater, Global Head of Securities Lending, BNY Mellon, and Thomas Wipf, Managing Director, Morgan Stanley gave their perspectives on how markets are changing and what the impact of the legislative and regulatory issues will be on the future activities of lenders and borrowers. In addition, there were panel sessions on Cash Management and the outlook for Hedge Funds/End User.  An engaging and insightful Economic Outlook for US including the budget and debt limit crisis was the keynote address presented by the conference co-chairs Matthew Chasin, Co-Chair, Royal Bank of Scotland, Bruce McDougal, Co-Chair, BlackRock and included economists Louis Crandall, Chief Economist, Wrightson ICAP and Michelle Girard, Managing Director and Chief US Economist, Royal Bank of Scotland.

Thursday's sessions included Collateral Management, Outlook for both Equity and Fixed Income Lending and Trading, and the Implications of Regulations on Securities Finance.

RMA acknowledges and thanks this year’s conference co-chairs for their work in developing and coordinating the business program: Matthew Chasin, Co-Chair, Royal Bank of Scotland, Bruce McDougal, Co-Chair, BlackRock.

RMA thanks the moderators and panelists for their time and participation in the business program. We also extend a special thank you to all our sponsors and exhibitors for their contributions. Finally, thank you to all who attended—we hope you benefitted from participating in this year’s conference! 

Click on the links below to view the speaker presentations given at the conference.  You will need Adobe Reader to view some of the PDF files.

Latin American Markets Update (PDF)

Securities Lending and Borrowing Legal & Regulatory Round Table (PDF)

Hedge Fund (PP)

Collateral Panel (Optimization, Scarcity, Effciency and Eligibility)  (PDF)

Implications of Global Regulations on Securities Finance (PDF)