The Law in Financial Market Infrastructure – Dan Awrey & Robert Steigerwald

Hey everybody,

Join us in welcoming Prof. Dan Awrey (Cornell University) to the Liquidity Project Financial Market Infrastructure (LPFMI) conversation. He will join a panel with Robert Steigerwald (Chicago Fed) and the two will explore the implication of law on financial market infrastructure mechanisms, specifically on derivative central counterpary clearing (CCPs). The panel will be moderated by Maria Cecilia (Ceci) del Barrio Arleo and Gerhardt (Kiko) Kalterherberg.

As some of you know, LPFMI is concerning itself around liquidity questions in financial market infrastructure (FMI) and is therefore open to all questions regarding
i. Liquidity problems at FMIs – this is the core of this project
ii. Liquidity problems in the financial system – this could be the next LP focus
iii. FMI problems in general – this includes innovation such as blockchain / DLT

We are getting together before the summer to close the season with the highlight having been the LPFMI conference on CCPs, Central Security Depositories (CSDs) and payment systems in conjuncture with a ECB / BuBa / Chicago Fed CCP conference in Frankfurt DE, Europe in Feb. 2020. In the lead up we had webinars on blockchain and CSDs. Due to Covid-19, our LPFMI conference in conjuncture with the Chicago Fed in Chicago, IL USA in Apr. 2020 got canceled.

Dan is a Professor of Law at Cornell Law School and has extensively published on FMI and derivatives. Dan has been in a conversation with us young scholars definitely since our YSI Evolving Financial System conference in Amsterdam, NL Europe in Nov. 2014. He also co-hosted the Finance between Liquidity and Insolvency conference alongside Prof. Katharina Pistor (Columbia) and the late Prof. Brigitte Haar (Goethe) in Frankfurt, DE Europe – informally a birthplace of LPFMI.

Robert is a Senior Policy Advisor at the Federal Reserve Bank of Chicago and has extensively published on CCPs and liquidity questions. Robert has been a speaker at the referenced Finance between Liquidity and Insolvency conference and has subsequently interacted with us. He has therefore been one of the instrumental senior scholars in the founding of LPFMI. A link to a recorded conversation on some of his papers between him, our Céline Tcheng and Andrew Medeiros is below.

Looking ahead, we plan in depth webinars on blockchain / DLT and law in FMI et al. after the summer. The efforts will be lead by our Vibhu Gangal, Cem Gultekin, Andrew Medeiros and Evariest Callens et al. A schedule will be circulated. Should you want to learn more about LPFMI, check out our initiation presentation from Jun. 2019. There were also Q&A webinars on the presentation, you can check out as well or reach out to any of us. Links below. Come join us!

LPFMI Team

Dan Awrey – bio
https://www.lawschool.cornell.edu/faculty/bio_daniel_awrey.cfm

Robert Steigerwald – bio
https://www.chicagofed.org/people/s/steigerwald-robert

DEBRIEF – LPFMI Robert Steigerwald paper review between Robert Steigerwald our Céline Tcheng and Andrew Medeiros
Video: https://storage.googleapis.com/ysi-recordings/5d3f667b0a199f1460d98791/video.mp4
Audio: https://storage.googleapis.com/ysi-recordings/5d3760970a199f1460d78b4c/audio.m4a

The liquidity project – Financial Market Infrastructure (LPFMI) introduction presentation Jun. 2019
https://drive.google.com/file/d/1sZDn62qfGq8TLvkSP9hKKJEISjkhLMjx/view

Liquidity Project Financial Market Infrastructure Q&A
Video: https://storage.googleapis.com/ysi-recordings/5d3760970a199f1460d78b4c/video.mp4
Audio: https://storage.googleapis.com/ysi-recordings/5d3760970a199f1460d78b4c/audio.m4a