Everyone knows that January is the month of New Year’s resolutions – so why not set some for work as well as home? To help you get started, we’ve come up with two resolutions that will help you better manage your trading costs and see a greater return in 2019: 1. Dedicate time to reducing your margin costs New Year’s […]
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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 not, the countdown has already begun.
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 […]
Derivatives trading and processing are becoming more automated, but the legal documents that back these trades are still reliant on paper and wet signatures. This slows down the time it takes to negotiate a document, and creates inefficiencies throughout the whole process.
The CFTC’s Office of the Chief Economist (OCE) has responded to industry petitions to mitigate the widely-forecasted IM Phase 5 oncoming storm. Readers will recall the July 2018 ISDA/SIFMA white paper previewing the phase 5 population explosion and recommending various reduction strategies: • Raising the in-scope AANA threshold from $8bn. to $100bn. • Postponing mandatory […]
ISDA and law firm Linklaters have launched a test version of a new online tool that will allow firms to electronically negotiate and execute initial margin (IM) documentation. The IM module is the first step in a broader push to make ISDA documentation available online through ISDA Create, ISDA’s new digital documentation platform.
The final phases of uncleared margin rules (UMR) implementation present serious logistical challenges. In-scope market participants face a number of major hurdles, which are exacerbated given the number of counterparties expected to come into scope. These include large scale efforts to re-document every bilateral relationship in accordance with UMR, operationally set up third-party segregated accounts and adopt IM modeling to minimize the dispute resolution process, among other key tasks.