For Release: January 31, 2003
FERC-CFTC ANNOUNCE FINAL AGENDA FOR CONFERENCE ON “CREDIT ISSUES IN THE ENERGY MARKETS: CLEARING AND OTHER SOLUTIONS”
WASHINGTON, D.C. -- The Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) today announced the final agenda for the joint technical conference “Credit Issues in the Energy Markets: Clearing and Other Solutions”, which will take place on Wednesday, February 5, 2003, at FERC headquarters, 888 First Street, N.E., Washington, D.C., in meeting room 2C.
This one-day conference will begin at 8:30 a.m., and conclude at 4:30 p.m. All interested parties are invited to attend and there is no registration or fee for this conference.
The aim of the conference is to explore, among a number of possible solutions, the feasibility of utilizing clearing to address, in a meaningful fashion, the credit issues that exist in today’s energy markets. The conference will focus on the credit and related liquidity issues presently impacting energy market participants and will examine possible solutions, including the utilization of CFTC-regulated clearing facilities. FERC Chairman, Pat Wood and CFTC Chairman, James E. Newsome are scheduled to make opening remarks, and a distinguished panel of experts representing credit analysts, clearing organizations registered with the CFTC, and energy market participants (see attachment) will discuss the issues in depth.
For more information about his conference, please contact Anne Marie Kelly, CFTC: (202) 418-5431, R. David Gary, CFTC: (202) 418-5085, or Bryan Lee, FERC¨(202) 502-8004.
Agenda for Joint Technical Conference
“CREDIT ISSUES IN THE ENERGY MARKETS:
CLEARING & OTHER SOLUTIONS”
February 5, 2003
Welcoming Remarks: Pat Wood III, FERC Chairman
James E. Newsome, CFTC Chairman
Overview: Bill Hederman
Director, Office of Market Oversight and Investigations, FERC
Jane Kang Thorpe
Director, Division of Clearing and Intermediary Oversight, CFTC
Panel I: Clearing Fundamentals & Oversight
This panel will focus on issues such as the benefits of centralized clearing, the process of clearing, and how derivatives clearing organizations are regulated by the CFTC. The speakers on this panel are:
11:30 a.m. -12:30 p.m.
Panel II: Clearing Models in the Energy Markets
12:30-2:30 p.m. .
This panel will consist of representatives from the major clearing providers for energy markets. The panelists will discuss their clearing models, the protections they provide and what financial support is behind these protections. The panelists are:
Panel III: Industry Initiatives & Implementation
This panel will explore different industry proposed solutions to mitigate credit risk. The speakers will include experts from market participants and industry organizations. They are: