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VM

Winter is coming…

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 […]

ISDA Publishes WGMR Compliant VM CSAs

For anyone involved in preparing for the bilateral margin regulations in September 2016 and March 2017 the post below and background are important. For many firms putting in place CSAs to cover the new regulations is fundamental and still not clear on how to achieve compliance. Click the link below to visit the DRS site and read on....

12th EMIR Q&A update

On 31 March 2015, ESMA published its 12th Q&A on EMIR implementation. Since the previous Q&A dated 24 October 2014, ESMA provided further clarification on the following issues: OTC Questions: Intragroup transactions Status of sovereign funds Pension Scheme exemption from the clearing obligation Frontloading requirement and intragroup transactions exemption Clearing obligation in relation with trade novations […]

Margin rules delay is in the air

The industry`s call for a delay of the margin rules, expected to apply from 1 December 2015, may finally receive a positive response from the regulators[1]. These rules on risk-management of uncleared derivatives will impose collection of Initial Margin (IM) and Variation Margin (VM) . The global phase-in timeline was set by the Basel Committee on Banking Supervision […]