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Collateral Management

IM calculation change imminent-ish

There is mounting pressure to revisit a fundamental aspect of the IM calculation methodology. The BCBS-IOSCO 2015 framework mandates an IM determination based on a 99% VAR over a fixed 10 day liquidation horizon[1]. ISDA have published a paper by Professor Rama Cont, Chair of Mathematical Finance at Imperial College London, which advocates for a […]

The blog post at DRS comments on the paper from the CFTC that fundamentally revisits how risk is measured and managed in the uncleared market. Worth a read, Bill.

ISDA AGM Round-Up - 8 Announcements with a Focus on Margin

The ISDA AGM generated a wave of content last week which we've assembled into one handy place. Most of the material is focussed on margin for non-cleared products given the changes due in 2019.

Getting Ready for Initial Margin: The Steps to Take

Each September until 2020, increasing numbers of entities will be required to meet initial margin regulations as the threshold level for compliance reduces. Preparation for meeting these requirements will take significant time, and will involve intensive work to ensure systems, processes and documentation are in place.

Public Margin Call Messaging API - VC funding call

A new invention to make making margin calls easier. Just invented today

AcadiaSoft Launches CollateralManager®

Bill: The announcement below seems to mean the AcadiaSoft platform now goes beyond it's original purpose of providing messaging for margin calls, into being an actual platform for the management of margin agreements. Yet the platform already contains Protocoll (ex Omgeo) which provides such a platform. I'm confused then, where does this new platform fit in? - write in with your answers please. Nothing on the home page to explain, nor a handy diagram to show how it all integrates.

Collateral management implementation: business model and culture are important, too

The focus on collateral management by both the buy- and sell-side has been one of the most important process changes that have emerged from financial crisis regulation.

FCA issues FFX outlook- fog confirmed

The FCA have today issued their response to the ESAs 24 November FFX announcement. It is brief and is worth reading in full as a masterclass in ironic prevarication and understatement. Highlights below (emboldening is ours): “The amendments to the RTS should become increasingly clear over time and we would expect firms to make their […]

Understanding the changing landscape of collateral management

TriOptima Video

Watch our latest videos on the collateral management landscape, covering five topics. Jenny Nilsson and I discuss regulation, market readiness, the FX rules and more.

Rocket 10 Downloadable PDF Edition

The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 10 (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.

Reducing counterparty credit risk in uncleared markets – but what are the costs?

An interesting viewpoint from staff at the Bank of England on the implications of margin on un-cleared portfolios and why achieving risk reduction benefits is all in the details.

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