More time needed on variation margin, says ISDA
Derivatives market participants should be given a relief period on variation margin rules after the slated March 1 deadline, the International Swaps and Derivatives Association has said, adding its voice to a rising clamour across the industry.
From March 1, financial institutions globally are expected to comply with rules requiring them to exchange variation margin on non-cleared derivatives trades. But there has been growing concern about the potential for wide-scale market disruption if pension companies, insurers and other investors are not ready in time.
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