10:50 a.m. - 11:00 a.m.
Break

11:00 a.m. - 12:00 p.m.
AMF Swaps Session

AMF Swaps Committee Meeting The full Swaps Committee and the membership will meet to discuss the progress that has been achieved through the work of the Subcommittees. AMF Swaps Committee Chair, Michael Koenig of Morgan Stanley Investment Management will moderate a meeting at which the Subcommittee leaders will update meeting attendees on their group's activities.

Report of Subcommittees:

Compliance: Marcia Clark of PIMCO will report on a recent AMF Lunch and Learn and on a revised best practice for swaps compliance and risk management.

Confirm/Legal: Marie Mooney of Prudential Investment Management will discuss proposed changes to the net physical settlement of swaps process.

Custodian: Michael Dever of State Street/Amy Bierbaum of State Street will discuss the development of a tri-party collateral control agreement and some of the tax and legal issues associated with the movement of collateral.

Report AMF/ISITC Working Groups:

Penny Morgan of Western Asset and George Reis of The Asset Managers Forum and Gail Rothman of BlackRock will provide and update on the Trade Notification Working Group and the Collateral and Payments Working Group.

Discussion of CPSS Initiative:

Jeffrey S. Mooney of the SEC and Patricia White of the Federal Reserve will discuss an initiative undertaken by the Committee on Payments and Settlements Systems (CPSS) to assess the effictiveness of current risk management practices with respect to post-trade in OTC derivatives markets. CPSS is a committee under the Bank for International Settlements. Feedback from AMF members are welcomed.

AMF Corporate Actions Committee

In a meeting to be lead by Lisa Ilaria of New York Life Investment Management, the AMF Corporate Actions Committee will review the proposed best practices to make the corporate actions process more efficient, automated and streamlined. The meeting will also include an overview of the best practices document which describes the current business process for both custodians and asset managers relating to corporate actions and communications of corporate action related information between the two parties and recommends new best practices.

12:00 p.m. - 12:30 p.m.
Committee Reports by AMF Swaps Committee & Corporate Actions Committee Leaderships

12:30 p.m. - 1:15 p.m.
Networking Lunch

Joseph Sack, The Bond Market Association will update the AMF on the development of the DTCC Trade Warehouse For Swaps

1:15 p.m. - 2:15 p.m.
Committee Breakout Session II

AMF STP Committee

STP Committee Co-Chairs Jon Ambos of Deutsche Asset Management and Christian Barsanti of Prudential Investment Management will lead the discussion about the Committee’s recent work relating to including Place of Settlement (PSET) as a matching criteria on electronic platforms and in delivery instructions, improving functionality of SSI databases and providing guidance on measuring adherence to block level matching and allocations best practice time guidelines.

Bank Loan Working Group

Philip Blake of BlackRock and Evan Murray and Gary Nussenbaum of Prudential Investment Management will review with the Working Group a bank loan lifecycle diagram. This diagram would describe the processing of the trade from the asset manager and custodian point of view. The AMF will share its draft diagram with the LSTA. It is the intention that this diagram will help to lay-out the process in order to identify opportunities for better industry business practices.

2:15 p.m. - 2:30 p.m.
Committee Reports by AMF STP Committee & Bank Loans Working Group Leaderships

2:30 p.m. - 2:45 p.m.
Break

2:45 p.m. - 3:45 p.m.
Buyside Business Continuity Discussion and Industry Overview relating to Avian Flu and Update on the Industry Directory Utililty - IDU

Industry securities firms and banks are revising their current business continuity plans to incorporate plans for a possible pandemic. In this panel, listen to the facts and hear how your operations department can take steps toward preparing for a pandemic.

Also, the industry is working toward the development of an IDU. The IDU is basically an electronic switchboard that would both provide current contact details of participants in the global financial markets in the event of a flu pandemic or other similar emergency situation. A key objective of this proposed utility is to avoid the high cost providing every industry employee with a more expensive commercial solution. During this session, meeting participants can experience a real-time demo of how the IDU will work. the Bond Market Association and the Securities Industry Association have undertaken an RFP process with Jordan and Jordan to determie a host for the IDU facililty.

An overview of the upcoming October 15th Industry-wide BCP test will also be provided.

Patrick Alesi, Lehman Brothers (invited)
John Hayes, New York Life Investment Management (invited)
Tom Jordan, Jordan and Jordan
Douglas D. Taggart, The Bond Market Association