Top Tips for Navigating the Uncleared Margin Rules - A Guide from CloudMargin and SmartDX
In June we hosted a webinar with SmartDX, CloudMargin and a guest speaker (Ricky Maloney) to discuss the many tasks and challenges to achieve compliance with the Uncleared Margin rules. You can watch that webinar by visiting the SmartDX website here and also discover the CloudMargin FlightPlan - a dedicated site containing a regulations comparison tool, a readiness checker and other resources important for achieving compliance with the UM rules.
Top Tips Guide
Today we are pleased to publish the collected wisdom of CloudMargin, SmartDX and the OTC Space in the form of a guide to these topics:
- Gathering information on your counterparties
- Prioritising your approach
- Agreeing with each counterparty how to re-paper
- Defining policies and terms
- Mapping responsibilities to people and an overal workflow
- The approach to getting agreements implemented
- Updating your daily procedures
- Handling funding of agreements
- An approach to valuing trades on a daily basis
- Handling disputes and their resolution
- Considering the most appropriate platform to run your agreements on (also see the FlightPlan for a platform selection tool)
Each of the topics above is covered with an explanation of the issue, our tips for the right approach and in some cases background statistics from the Peer Benchmark survey we ran prior to the webinar.