EFET Legal Workshops

EFET Workshop on Master Trading and Collateral Agreements*   
Monday, 21 November 2011
Time: 10.00 – 16.00

The Workshop is an intensive, across-the-board training seminar for delegates now using or desiring to become familiar for the first time with the EFET Master Trading Agreements for Power (Version 2.1(a)) and Gas (Version 2.0(a)), currently the industry standard documents used to buy and sell electric power and natural gas throughout Europe. The Workshop will also cover the EFET Credit Support Annex (Version 1.0(a)) commonly used to secure market price risk trading exposures under individual Master Trading Agreements via the collection and return of collateral. The Workshop will also examine each of the country and Hub-specific Appendices to the EFET Power and Gas Master Agreements:

• TTF Appendix and Guidelines (Dutch Gas)
• PEG Appendix (French Gas)
• ZBT Appendix (Zeebrugge Gas)
• NBP Appendix (English Gas)
• Gaspool Appendix (German Gas)
• EFET/AIGET PSV Appendix (Italy Gas)
• ITAB/CEGH Appendix (Baumgarten Gas)
• Gas Capacity Appendix
• GTMA Appendix (English Power)
• Emissions Allowance Appendices (Carbon and other Greenhouse Gas Emission Rights)

The Workshop will provide a comprehensive introduction for those new to the industry or EFET’s form documents. For those already using the EFET Master Trading and Collateral Agreements, it will provide a chance for delegates to:

- Learn the history of the development of these documents
- Clarify specific issues with the industry expert on these agreements
- Understand why and how certain provisions came to be drafted the way they were and
- Brush up on the nuts and bolts of each of the EFET form Master Trading and Collateral
agreements, as well as all related supplemental Appendices

Who should attend?
The Workshop is targeted at, and will greatly benefit, energy trading lawyers (both in-house and in private practice), contracts negotiators and administration managers, risk and credit managers and related personnel, including all those who negotiate contracts and document trades in the European energy markets. 

Presenters:
John Varholy, London based Partner in the Energy Trade and Commodities Group of Reed Smith and long time Outside General Counsel to EFET

Nic Horsfield, Associate, Reed Smith, London.

 *For this workshop separate registration is needed. Please go to the registration page to sign up for the workshop. Please note: there is a limited number of participants!

Energy Contracting Master Class - The Expanded Universe of EFET Form Documentation*
Tuesday, 22 November 2011
Time: 10.00 – 16.00

The Energy Contracting Master Class is designed to provide an in-depth introduction to certain essential ancillary documents developed by EFET to expand the scope of its Power and Gas Master Trading Agreements, as well as to supplement and link those agreements, in order to provide their users with state-of-the-art contractual, credit and legal risk mitigation tools.

Attendees will also examine the recently released EFET Master Netting Agreement (“MNA”) developed to facilitate cross-product and cross-contract close-out netting within the European energy trading markets. The MNA is used to contractually link trading under different forms of master trading agreements into a single, harmonious contractual structure offering optimal credit risk mitigation. The Master Class will also briefly examine EFET’s previous netting agreement, the EFET/IECA European Commodities Schedule and the other component parts of the Bond Market Association's Cross-Product Master Agreement (the "CPMA"). Finally the Master Class will examine the EFET Credit Support Annex to the MNA and the CPMA.

The Master Class will review the provisions of the EFET Emissions Allowance Appendices, by which companies with existing, executed EFET form Power or Gas Master Trading Agreements can easily expand the scope of these contracts into contractual platforms for the trading of Emission Allowances. The Master Class will focus on EFET’s efforts to update these Appendices for Phase III trading and to address recent issues affecting the emissions market such as EUA fraud, theft and recycling.

Presenters:
John Varholy London based Partner in the Energy Trade and Commodities Group of Reed Smith and long time Outside General Counsel to EFET
Nic Horsfield, Associate, Reed Smith, London

*For this master class separate registration is needed. Please go to the registration page to sign up. Please note: there is a limited number of participants!

The Workshop and Master Class Together:
By the end of the Workshop and Master Class, attendees will be familiar with the key procedures, documents and issues involved in trading power, natural gas and emissions allowances throughout Europe. In addition, attendees will know everything they need to start using (or for those already using, to better understand and master), each of EFET's template trading, collateralisation, netting and related ancillary agreements and form documents. The Workshop and Master Class will focus on both EFET’s efforts to standardise physical energy trading terms and to improve industry risk mitigation through the widespread adoption of its standard form documents. Particular attention will also be given to various methods and mechanisms for managing legal, contracting and credit risk.

REGISTER HERE FOR BOTH WORKSHOPS!
Registration for both days €1495 + VAT