May 3, 2016

The Future of Collateral Management | Breakfast Video Series

A collection of videos from the April 7th breakfast briefing, explaining the latest service offerings in Collateral Management, the approach to preparing for the bilateral margin rules, and updates from NetOTC, CloudMargin, Clearstream and TriOptima.

On April 7th The Field Effect and The OTC Space provided a breakfast briefing on Margining to a packed room of attendees. Below are video recordings of the main sections of the event, time coded so you can pick and choose which pieces are of interest. Full details of the event can be found here, all the diagrams plus two white papers can be found in the Rocket Special Edition, and the white papers can be found at The Field Effect over here. In summary we had sessions on:

  1. The regulatory background, the new bilateral margin regulations (Bill Hodgson)
  2. How these impact your business and what the new target operating model looks like (David Field)
  3. An update on the latest margin services (Bill Hodgson)
  4. A discussion with CloudMargin and Clearstream (Karl Wyborn and Richard Glen)
  5. A discussion with TriOptima (David White)
  6. A discussion with NetOTC (David Maloy)

Session 1 – Regulations, Industry Impact, Target Operating Model and New Margin Services

Speakers: David Field, Managing Director, The Field Effect and Bill Hodgson, Owner and Editor of The OTC Space.

  1. Regulatory Background, the bilateral margi regulations (Bill Hodgson) (00:22)
  2. Business Impact and Target Operating Model (David Field) (02:44)
  3. The Latest Update on New Margin Services (Bill Hodgson) (13:00)

Make sure you switch YouTube to HD 720p to get the best quality broadcast.

Session 2 – CloudMargin and Clearstream


Richard Glen, Head of Collateral Management Sales, Clearstream

Karl Wyborn, Global Head of Sales, CloudMargin.

  • Introduction to Clearsteam and CloudMargin (00:18)
  • Q1 How do firms integrate with CloudMargin (2:07)
  • Q2 How is Clearstream responding to the bilateral margin regulations? 06:16)
  • Q3 Repapering existing CSAs, a multi-lateral approach from Clearstream (09:31)
  • Q4 How do the partnerships with Markit and OpenGamma work? (11:22)
  • Q5 Covering margin calls with cash – what are the problems? (16:48)
  • Q6 What is the impact of services like CloudMargin on a traditional 'clearing' bank like CitiCorp? (19:17)
  • Q7 How will CloudMargin help resolve Initial Margin disputes? (22:00)
  • Q8 How is the industry re-thinking Collateral Management? (24:03)

Make sure you switch YouTube to HD 720p to get the best quality broadcast.

Session 3 – TriOptima and triResolve Margin


David White, Product Marketing Executive, TriOptima

  • Q1: What does TriOptima see as the challenges of the new bilateral margin regulations? (00:52)
  • Q2: Does a firm really need to split their Variation Margin call into new and old portfolios? (02:31)
  • Q3: How has TriOptima responded to the new regulations? What new services do you have to offer? (06:02)

For commercial reasons this is a shortened version of the full discussion at the live event.


Make sure you switch YouTube to HD 720p to get the best quality broadcast.

Session 4 – NetOTC


David Maloy, Chief Operating Officer, NetOTC

  • Q1: How does NetOTC see the regulatory challenges? (00:52)
  • Q2: What is the NetOTC offering? (06:41)
  • Q3: What is margin dislocation? (07:38)
  • Q4: Where does NetOTC fit in specifically? (11:30)
  • Q5: What will the state of the OTC market be in 2018/2020, in particular FX? (16:44)
  • Q6: Will NetOTC offer to compress or simplify portfolios? (17:55)
  • Q7: Why is NetOTC creating a new model? (19:23)
  • Q8: Who is the competition for NetOTC? (21:39)


Make sure you switch YouTube to HD 720p to get the best quality broadcast.

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