Collateral Management

Maximise your collateral management programme in 2017 | Video Highlights

Are you ready for 2017?: CloudMargin and SWIFT hosted a breakfast meeting on February 2nd to discuss the impending uncleared margin regulations. Watch these compressed highlights to learn more.

FCA Statement on EMIR 1 March 2017 variation margin deadline

Uncleared Margin Reform: Ask Us Anything Webinar

While the CFTC, Hong Kong, Singapore and Australia have provided transition periods for compliance with Uncleared Margin Reform, US and European prudential regulators, Japan and Canada have not. Regardless of forbearance, the pressure to get as many counterparty relationships repapered as possible remains high priority.

In this follow-up to our previous webinar, Axiom’s Global Banking Team, Senior Guest Speakers and The OTC Space will provide an update on key market developments, share insights on project strategy, and answer questions from the audience.

Uncleared Margin Reform: Ask Us Anything (Registration Page)

Register here for the follow-up webinar on Uncleared Margin Reform, an "Ask anything" interactive event.

ESAs publish statement on variation margin exchange

The European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) have published a statement in response to industry requests relating to operational challenges in meeting the deadline of 1 March 2017 for exchanging variation margin.

Bill: Press release attached below.

Rocket 9 Downloadable PDF Edition | Uncleared Margin Regulation

The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 9 featuring four articles on Uncleared Margin Regulation plus 8 articles on a regulation, trading, clearing and post-trade. Get your free copy here, and send one to your colleagues.

The CFTC Grants a No-action Letter Giving 6 Months to Comply with Uncleared Margin Rules

Six months to comply for US regulated firms

Uncleared Margin, Webinar by Axiom, Full Video

The preparations for March 1st are well behind schedule across the OTC market. Find out what firms have been doing, what approaches they are taking, and how to reduce the economic impact of not being ready.

Time Running Out

First, the good news. The number of credit support annexes (CSAs) that had been amended to meet new regulatory variation margin requirements more than doubled during the past week. The bad news is the overall proportion is still very low, at just 4.43%. With less than three weeks before deadline, it’s difficult to see how every one of the thousands of firms affected will be ready and able to continue accessing derivatives markets from March 1.

Uncleared Margin Rules: The Global Hurdles

This September marked seven years since the symbolic gathering of world leaders at the G20 summit in Pittsburgh that would radically change the face of derivatives trading. As markets continued to reel from the Lehman Brothers collapse a year earlier, they outlined an edict that all standardised (where appropriate) over the counter (OTC) derivatives would be “cleared through central counterparties by end-2012 at the latest.” It also established that non-centrally cleared contracts should be subject to (…) mitigate(d) systemic risk”. In other words establish risk management processes when OTC products are not centrally cleared.