Today’s $45 trillion CDS market is roughly twice the size of the entire U.S. stock market. Yet despite its staggering size, the unregulated over-the-counter CDS market and its vast underpinnings remain a mystery to even the most sophisticated of investors.

What's more, the spider's web of connections between Credit Default Swaps and global subprime failures, ratings downgrades, monoline exposure, and billion-dollar losses by commercial banks and insurers means your potential CDS risks are greater than ever.

Enroll today in this international audio conference and let noted restructuring attorney Andrea Pincus -- recently quoted in Time Magazine regarding the impending CDS crisis -- help you better understand the make-up of your CDS portfolio. She’ll provide a plain-English explanation of the structure of CDS transactions, then analyze the state of today’s market, empowering you to better manage CDS contract risks, tap into potential rewards, and spot warning signs along the way.

You’ll Discover

• What’s behind the curtain? What you need to know about the structure of today’s CDS contracts and their evolution – from hedging vehicle to highly customized alternative investment vehicle,
• Mechanics of a typical CDS transaction, including required documentation and critical contract terms
• Special challenges and concerns for CDS written on asset-backed securities and backed by financial guaranty policies
• What is counterparty risk? How is it affected in the face of subprime meltdowns, concentration of major players, the ongoing liquidity crisis, and shaken investor confidence?
• Changing dynamic for troubled companies due to the high volume of CDS trading in the secondary market and related pressure on CDS buyers to push troubled companies into Chapter 11
• New initiatives from ISDA, including modifications to standard forms
• Prospects for regulation and changing accounting principles
• Emerging areas of dispute and litigation – like ambiguous documentation, valuation methodologies, and conflicts over collateral obligations. Learn how to identify them before they sabotage your portfolio
• Hedging your hedge – potential upsides for distressed investors

Who Should Attend

All those participating in today’s Credit Default Swap market – both buyers and sellers of CDS protection – and their legal and financial advisors. This easy-to-attend audio briefing is designed to help you better understand the latest market dynamics affecting ways to value your holdings – or unload them.

Continuing Legal Education Credit Available

This audio conference is accredited for 1.50 MCLEs in California and Texas, and application is pending in Tennessee. New York State has reciprocity with California. For non-attorneys and attorneys practicing in other states, Certificates of Attendance are available upon request.

To sign up for this audio conference, contact Martin Heavner at Beard Audio Conferences.