Approaching Phase 6 of Uncleared Margin Rules? A reference guide to compliance, monitoring and exchanging initial margin
Introduction
In response to the economic and financial crisis that began in 2007, the Banking Committee on Banking Supervision (BCBS) and the International Organization of Securities Commission (IOSCO) developed a framework around margin requirements for non-centrally cleared derivatives. The result was a set of regulatory guidelines known as Uncleared Margin Rules (UMR) that have been phased in annually since 2016.
Phase 5 of UMR, which was delayed one year due to the COVID-19 pandemic, went live on September 1, 2021 with over 330 firms globally. The final wave, Phase 6, is by far the largest group, and is due to go live exactly a year later on September 1, 2022.
Regulators unleashed a new approach to Regulatory Initial Margin (Reg IM) when they provided regulatory relief
Intentional or not, when regulators granted Phase 4, 5 and 6 firms’ relief to delay becoming operationally ready to exchange Reg IM (until they exceeded the US$50 million threshold afforded by regulation) they unleashed a whole new set of market forces on the concept of regulatory initial margin monitoring.
This paper will explain how firms can take advantage of this regulatory relief by monitoring their initial margin (IM).
To read the full guide, download here.
Recent Videos
Article
Fitting Square Pegs in Round Holes: AI and Chatbots Reshaping Derivative Knowledge
September 13, 2023
Video
Expanding Open-Source Risk Engine (ORE)Functionality - How it’s flexible deployment offers a real choice for firms
August 8, 2023
Article
Blog
Acadia’s Open-Source Risk Engine (ORE) - How its expanded functionality provides a real choice for firms
June 27, 2023
Recent Videos
Article
Fitting Square Pegs in Round Holes: AI and Chatbots Reshaping Derivative Knowledge
September 14, 2023
Video
Expanding Open-Source Risk Engine (ORE)Functionality - How it’s flexible deployment offers a real choice for firms
August 9, 2023
Article
Blog
Acadia’s Open-Source Risk Engine (ORE) - How its expanded functionality provides a real choice for firms
September 7, 2023
Introduction
In response to the economic and financial crisis that began in 2007, the Banking Committee on Banking Supervision (BCBS) and the International Organization of Securities Commission (IOSCO) developed a framework around margin requirements for non-centrally cleared derivatives. The result was a set of regulatory guidelines known as Uncleared Margin Rules (UMR) that have been phased in annually since 2016.
Phase 5 of UMR, which was delayed one year due to the COVID-19 pandemic, went live on September 1, 2021 with over 330 firms globally. The final wave, Phase 6, is by far the largest group, and is due to go live exactly a year later on September 1, 2022.
Regulators unleashed a new approach to Regulatory Initial Margin (Reg IM) when they provided regulatory relief
Intentional or not, when regulators granted Phase 4, 5 and 6 firms’ relief to delay becoming operationally ready to exchange Reg IM (until they exceeded the US$50 million threshold afforded by regulation) they unleashed a whole new set of market forces on the concept of regulatory initial margin monitoring.
This paper will explain how firms can take advantage of this regulatory relief by monitoring their initial margin (IM).
To read the full guide, download here.
Introduction
In response to the economic and financial crisis that began in 2007, the Banking Committee on Banking Supervision (BCBS) and the International Organization of Securities Commission (IOSCO) developed a framework around margin requirements for non-centrally cleared derivatives. The result was a set of regulatory guidelines known as Uncleared Margin Rules (UMR) that have been phased in annually since 2016.
Phase 5 of UMR, which was delayed one year due to the COVID-19 pandemic, went live on September 1, 2021 with over 330 firms globally. The final wave, Phase 6, is by far the largest group, and is due to go live exactly a year later on September 1, 2022.
Regulators unleashed a new approach to Regulatory Initial Margin (Reg IM) when they provided regulatory relief
Intentional or not, when regulators granted Phase 4, 5 and 6 firms’ relief to delay becoming operationally ready to exchange Reg IM (until they exceeded the US$50 million threshold afforded by regulation) they unleashed a whole new set of market forces on the concept of regulatory initial margin monitoring.
This paper will explain how firms can take advantage of this regulatory relief by monitoring their initial margin (IM).
To read the full guide, download here.
Share this
Products Suites you might be interested in
Products Suites you might be interested in
Explore our video library
Explore our video library
Recent Insights
Article
Fitting Square Pegs in Round Holes: AI and Chatbots Reshaping Derivative Knowledge
September 13, 2023
Video
Expanding Open-Source Risk Engine (ORE)Functionality - How it’s flexible deployment offers a real choice for firms
August 8, 2023
Article
Article
Fitting Square Pegs in Round Holes: AI and Chatbots Reshaping Derivative Knowledge
September 13, 2023
Video
Expanding Open-Source Risk Engine (ORE)Functionality - How it’s flexible deployment offers a real choice for firms
August 8, 2023
Article