Non-cleared Derivatives

IM Phase 5 Delay on the Horizon?

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Risk Magazine is reporting today about the keynote speech given by Patrick Pearson (Head of the Financial Market Infrastructure and Derivatives unit at the European Commission) at the OpRisk Europe conference in London earlier today.  He is reported to have hinted that a delay in the implementation of the final

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ISDA Initial Margin Documentation Webinar Series

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ISDA developed a series of short webinars related to the initial margin (IM) documents published in late 2018 and 2019, which can be accessed in the ISDA Bookstore and Online Library.

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IM Phase 5 mitigation…’ish

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Banks have spent the last four years gamely preparing for and complying with IM regulations. Phases 1-3 have been challenging, the current phase 4 promises more of the same. The market has long been aware that phases 1-4 are mere kittens to the phase 5 (probably angry) tiger. Useful initiatives- negotiation platforms, custodian portals, standardised collateral schedules, NextGen documentation- are all on their way, none of them adequately solve the question “Where are we going to get enough lawyers?”

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IM Phase 5 mitigation…’ish

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Banks have spent the last four years gamely preparing for and complying with IM regulations. Phases 1-3 have been challenging, the current phase 4 promises more of the same. The market has long been aware that phases 1-4 are mere kittens to the phase 5 (probably angry) tiger. Useful initiatives- negotiation platforms, custodian portals, standardised […]

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Knights (and ladies) of the Roundtable

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DRS recently hosted a well-attended IM Breakfast Roundtable at the Gherkin. A distinguished list of panellists included Mayer Brown’s Ed Parker, Margin Reform‘s Chetan Joshi and Bank of New York Mellon’s Mark Higgins.

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Knights (and ladies) of the Roundtable

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DRS recently hosted a well-attended IM Breakfast Roundtable at the Gherkin. A distinguished list of panellists included Mayer Brown’s Ed Parker, Margin Reform‘s Chetan Joshi and Bank of New York Mellon’s Mark Higgins. Focused primarily on the imminent challenges of IM Phase 4, participants were drawn from the sellside; the event’s success effectively mandates a […]

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Charles River bolsters collateral management processes with AcadiaSoft

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Time for Recalibration – IQ January 2019

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It’s traditional to start the New Year with a few predictions. When it comes to forecasting the priorities for derivatives markets, however, this year’s list is easier than most to put together: Brexit, benchmark reform, margin, cross-border issues and technology.

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Winter is coming…

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The deadline for compliance with Phase 4 and Phase 5 of the IM requirements is miles away, isn’t it?  Isn’t it…?

The truth is that, whether you like it or not, the clock is already ticking.  Whether anyone has told you or not, the countdown has already begun.

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Winter is coming…

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excellent post on UMR from DRS - a must read for any firm who might be in Phase 4 or 5. Bill


Rising to the repapering challenges of IM Phases 4 and 5   Introduction The deadline for compliance with Phase 4 and Phase 5 of the IM requirements is miles away, isn’t it?  Isn’t it…? The truth is that, whether you like it or not, the clock is already ticking.  Whether anyone has told you or […]

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