I. INTRODUCTION -
The Commodity Futures Trading Commission (“CFTC” or “Commission”) recently approved a proposed rule (the “Proposed Rule”) to improve the regulation of cross-border swap transactions and establish a formal...more
OVERVIEW -
- An estimated $350 trillion of financial contracts and securities tied to LIBOR
- End of 2021: LIBOR to be discontinued
- Prior to End of 2021:
- Pre-cessation trigger
- If LIBOR becomes...more
AGENDA -
- Global Derivatives Regulatory Update
- Margin for Uncleared Swaps
- EMIR REFIT
- FINRA Rule 4210 Margin Requirements
CFTC Regulatory Developments -
- NFA Compliance Rule 2-9
- NFA Compliance Rule 2-29
-...more
SUMMARY -
Swap dealers (“SDs”) are required to post and collect initial margin (“IM”) for uncleared swaps with other SDs and counterparties that are financial end users with “material swap exposure” (“MSE”) in accordance...more