One Year Ago In Derivatives Week

European politicians began to push back against the U.S. efforts for global coordination on derivatives reform. Among the topics in discussion were aggregate position limits and margin requirements for uncleared trades. [This week, a Commodity Futures Trading Commission idea was floated to the industry which may require both initial margin and variation margin in uncleared trades to be held by third party custodians. An attendee at the International Swaps and Derivatives Association's Annual General Meeting noted that the European Commission and European Parliament had not discussed the issue in great detail, but are scheduled to in coming weeks.