Navigating Uncleared Margin Rules - prepare for Initial Margin compliance


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Asset managers that are ahead of assessing their exposure to uncleared margin rules can significantly reduce their administrative and trading costs.

In July 2019, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) announced an extension to the implementation of the margin requirements for non-centrally cleared derivatives, designed to stagger the process and give some firms more time in their implementation projects.

Uncleared margin rules impose “clearing-like” rules on over the counter derivative transactions requiring that counterparties are subject to Regulatory Initial Margin (IM) along with Variation Margin (VM) to maintain a trade. The UMR framework was published by the Base Committee of Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO).

Phased-in compliance with IM started in 2016 and will phase through September 2021 based on gross notional outstanding.

To get up to speed on uncleared margin rules, join CME Group’s Jack Callahan and TriOptima’s Neil Murphy as they help you understand key topics related to UMR compliance.  


Attending this event will provide you with insight into: 

  • Background and rules
  • Key challenges - legal documentation, collateral account set up, how to reduce your notional, daily compliance and margin calculation
  • Timeline of when you may be in scope
  • What you should be doing to prepare
  • Solutions to minimize the impacts and costs 

Financial and non-financial counterparties including swap dealers, banks, hedge funds, asset managers, insurance companies, pension funds, corporates and government entities continue to be impacted. 

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