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Article: Rocket 9 Downloadable PDF Edition | Uncleared Margin Regulation

23 February 2017 | Samantha Hodgson

The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 9 (and in the attachments section below). Formatted in landscape to fit your computer or portable device screen, this edition contains inside information on what's happening in the industry. The PDF is attached below, and contains a great set of articles from previous and new authors.

In a change of approach we are distributing the PDF version of Rocket first, and will follow with the print version over the next few weeks, as printing and distribution take time.  The reason for this is the March 1st Uncleared Margin Regulation deadline for firms to begin exchanging variation margin. The recent announcement from the CFTC of a 'no-action' letter gave some US firms (subject to their regulation) more time to comply. Singapore, Australia and Hong Kong have given firms a fix month transition period, but crucially firms in the US subject to prudential regulation (about 50%) and also in Europe and Japan have no transition period and therefore the March 1st deadline still applies.

Within Rocket 9 are four well thought commentary pieces on the state of uncleared margin which give you more ideas on how to comply and how to think long term about your business lines subject to margin.

Collateral Management

  • Get Ready - A $13 billion Collateral Headache is Heading in Your Direction: by Peter Farley
  • Buyside Challenges: start of a seismic shift to a new era?: by John Lund
  • The Collateral Cliff Edge – Variation Margin on the Brink: by Phil Langton
  • Margin Requirements for Uncleared Derivatives Update: by Nick Stafford

In addition, we recently ran a webinar with Axiom Law on the same topic. Axiom have 300 staff working with banks to meet the March 1st deadline, so have direct experience of the 'battlefield'. We had two senior guest speakers from Standard Chartered (Kurt Crommelin, Head of Legal, Financial Markets for Europe) and Société Générale (Gerard de Lambilly, Global Head of Legal for Prime and Securities Services). Browse the video from the webinar here, it has a list of key time points so you can dip into the relevant sections.

Other Articles include:

    RegulationUncleared Margin Regulation

    Trading

    • Identifying Liquidity Risk for Financial Stability: by Sol Steinberg

    Post Trade

    • Start Making Sense of The Data: by Jenny Nilsson
    • The Absence of Cash is the Silent Assassin!: by Andrew Whiteley
    • Navigating the waters of EMIR, MiFIR, and SFTR: by Alan McIntyre
    • How do financial regulations impact clearing and margining in energy and commodities?: by Aviv Handler

    Clearing

     


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