The Brazilian Derivatives Markets

Date: December 4, 2007
Time: 8:30 – 10:00 a.m.
          Breakfast Roundtable
Location: Simpson Thacher & Bartlett LLP
                425 Lexington Avenue (between 43rd & 44th street) – 31st floor – Room EF

Brazil has the leading derivatives market in Latin America and one of the world’s largest commodities and futures exchanges. An ever increasing variety of products are traded on the Brazilian derivatives markets, from interest rate and foreign exchange to commodities and credit derivatives. Brazil’s increased macroeconomic stability and its long-awaited receipt of investment-grade status are expected to have a significant positive impact on the Brazilian derivatives markets.


What are the main products currently traded? What is the regulatory and institutional framework for these markets? What are their future prospects? Which are the standard documents used in derivatives trades? Please join IBRADEMP for a discussion about these and other relevant issues concerning the Brazilian derivatives markets.


Speakers:


Fernando Ruiz de Almeida Prado is a partner at Pinheiro Neto Advogados and represents the firm before ISDA, the International Swaps and Derivatives Association. Mr. Prado’s practice focuses on corporate and financial transactions, capital markets and derivatives. He drafted the Contrato Global de Derivativos, the agreement that has become the standard contract for local derivatives transactions and has actively practiced in the area since the first regulations were enacted. Mr. Prado was also one of the drafters of the close-out netting opinion for Brazil, prepared for ISDA by Pinheiro Neto Advogados and another Brazilian law firm.


Tiago A. D. Themudo Lessa is a senior associate at Pinheiro Neto and currently a visiting international attorney at Allen & Overy LLP in New York. He has advised clients on foreign investments in Brazil, derivatives transactions, foreign exchange regulations and structured finance deals. Mr. Lessa has worked closely with Mr. Prado in many of his transactions, and assisted him in drafting the Contrato Global de Derivativos and the close-out netting opinion to ISDA.


Herman Hirsch is a Managing Director and head of the Corporate Equity Derivatives Group at Citigroup with responsibilities for structuring and executing large derivatives based equity transactions in the US, Asia and Latin America. Typical derivatives transactions include share repurchase, hedging and financing for clients around the world. Mr. Hirsch has completed hundreds of transactions in this area and was awarded the 2005 IFR Award for US Structured Equity Issue of the year for an innovative Private Mandatory Convertible Note transaction.


Ilene Froom is an Executive Director and Assistant General Counsel in the legal department of J.P. Morgan Chase & Co. She works on equity derivatives transactions, including options, swaps, forwards and structured trades. Ms. Froom frequently speaks at industry conferences, including for ISDA and ACI.


Coordinators:
  • Marcello Hallake, Partner, Thompson & Knight LLP
  • Marcio Mello Silva Baptista, Partner, Tozzini Freire Advogados
  • Guilherme Ferreira, vice-president, emerging markets, Lehman Brothers Inc.
  • Adriana Kertzer, associate, Simpson, Thacher & Bartlett LLP
  • Fernando Szterling, associate, Sidley Austin LLP
  • Beatriz Franco, vice-president, capital markets, JPMorgan Chase & Co.
Free Registration

RSVP and information: ibradempny@ibrademp.org.br
Due to building security it is important you RSVP in order to have your name at the security desk upon arrival. Please bring a government-issued photo ID and allow yourself additional time to get through security.

IBRADEMP's Officers
Ecio Perin Junior
Daniel Kalansky
Luis Henrique Mori Peyser
Rodrigo de Paula
Rodrigo V. Vella