In 2015, a policy framework on the margin requirements for non-centrally cleared over-the-counter derivatives (OTC Derivatives) transactions was published by the Basel Committee on Banking Supervision and the International...more
The current COVID-19 pandemic has led to huge disruption in financial markets and larger collateral swings. This note sets out some issues market participants may need to consider in relation to collateral under OTC...more
For the first time in the history of derivatives, regulators in leading markets will require assets to collateralize many derivatives which are not settled in a regulated clearinghouse. It is not possible to overstate...more
On 8 March 2016, the three European Supervisory Authorities (ESAs) published their final draft regulatory technical standards in relation to the collateralisation of non-centrally cleared derivatives. The standards are to...more
In previous installments, we covered the basics of the margin regulations. In our final two installments, we’ll cover a few practice points and explore some of the more complex margin issues (particularly under Regulation U),...more
In this issue: - SEC Approves FINRA Rule Change That Requires Reporting OTC Equity Transactions Within 10 Seconds - NFA Issues Notice to Members Regarding Section 16 Financial Requirements for Cleared Swaps...more