Paul Watkins

Independent Clearing Expert, Former Director-Legal
LCH

Paul negotiated and drafted the Swapclear governance and profit-share with OTCDerivnet (the G14 Banks). Point person for on the ground legal advice and crisis management/support for LCH throughout the Lehmans and MF Global and Cyprus Popular Bank defaults.

He negotiated and managed the migration of positions and collateral to successor CCPs for the ICE and Liffe markets. Also, Paul led the legal side of the deal to outsource LCH's IT operations to India. Negotiated contracts with Murex and Tata for supply of clearing systems to LCH. He ensured legally sound operational framework for LCH to deal with a default, or other crisis (eg euro break-up).

Paul -developed rules and processes to support LCH’s EMIR application. Created Dodd-Frank LSOC-compliant client clearing services under LCH’s New York law-governed FCM rulebook for EnClear (freight) and ForexClear swaps. Negotiated and documented interoperable clearing links, starting with the world's first, between Clearnet and CC&G, for MTS Italy.

At Clearnet, Paul drafted the harmonised clearing rulebook for the 4 Euronext markets (Paris, Brussels, Amsterdam and Lisbon) with working groups of local users and liaison with local regulators.

Check out the incredible speaker line-up to see who will be joining Paul.

Download The Latest Agenda

DAY 1 – 14TH NOVEMBER

Monday, September 11th, 2017

14:20 Presentation: The current state of OTC central clearing: Where are we and what are the next steps?

Central clearing post-mortum: What inefficiencies have arisen from the early impact of clearing and how can they be overcome in preparation for the next phase?
How will regulators tighten up or water down central clearing regulation, and how will this impact the buy and sell side?
A central clearing review: How are regulators looking to change the scope of subject participants and frontloading deadlines?
Looking to the future: What is next step in central clearing and how can the industry work towards this