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ICMA and SIX Joint Conference - LIBOR to SARON: Are you ready?
 
Date and Venue

Date: 1 November 2018
Time: 10.45-14.00

Venue:
SIX ConventionPoint
Pfingstweidstrasse 110
8005 Zürich

Event Overview
To avoid the problems associated with manipulation of LIBOR in the past and the financial stability risks arising from continued dependence on LIBOR in the future, the authorities want financial markets to transition from the IBORs (eg LIBOR) to near Risk-Free Rates (RFRs).  RFRs have been chosen in the UK (SONIA), US (SOFR), Switzerland (SARON) and Japan (TONAR), and the choice of an RFR is currently being considered in the euro area.

This transition is a considerable challenge for all IBOR users.
In Switzerland the Swiss National Working Group, chaired by Marcel Zimmermann (SNB) and Martin Bardenhewer (ZKB), has overseen [a] process leading to the selection of SARON as the RFR  and will coordinate the transition to the new benchmark.

This conference, jointly presented by SIX and ICMA, was an opportunity for market participants to hear from the authorities and experts about the practical issues involved in the transition.

To download the presentations from the event, please see the PDFs below:

Anne-Lise Nguyen, Market Operations Expert, Money Market and Liquidity Division
European Central Bank update

Christian Bahr, Head Index & iNAV, SIX
EU Benchmark Regulation and SARON

Martin Bardenhewer, Head Financial Institutions & Multinationals, Zürcher Kantonalbank
Transition to SARON


 

Agenda

10.45        
Registration      
11.15 Introductory remarks
Robert Jeanbart, Business Unit Head Financial Information, SIX
11.25 International update

Paul Richards, Managing Director, Head of Market Practice and Regulatory Policy, ICMA

Anne-Lise Nguyen, Market Operations Expert, Money Market and Liquidity Division, ECB

11.55 EU Benchmark Regulation and SARON      
Christian Bahr, Head Index & iNAV, SIX                         
12.15 Transition to SARON
Martin Bardenhewer, Head Financial Institutions & Multinationals, Zürcher Kantonalbank
12.45 Panel – Practical considerations for transition            
Moderator:
Ed Moorby, Partner, FS Risk Advisory, Deloitte

Panelists:
Michael Bierbrauer, Head Regulatory Change Delivery Swiss Universal Bank/Int'l WM, Credit Suisse
Rene Boesch, Partner, Banking, Finance and the Capital Markets, Homburger
Ernst Lienhard, Senior Treasury Officer, Swiss Re
Gaspare la Sala, Group Treasury, Pictet
13.30
Closing remarks
Martin Scheck, Chief Executive, ICMA
13.35 Lunch
14.00 Event close