A large proportion of derivatives users will soon be required to post margin on non-cleared derivatives trades – in many cases, for the first time.
The implications for market participants are vast. Derivatives contracts will need to be changed, third-party segregated accounts will need to be set up, systems and processes to oversee the exchange and settlement of collateral will need to be developed, and new models for calculating margin will need to be established, implemented, tested and approved.
This webcast outlines the scope of the new requirements and describes the ISDA initiatives that are under way to prepare for the rules. This includes progress on developing a standard initial margin model (SIMM)TM and adaptations to collateral documentation.
Click here to listen to the audio recording.
Click here for a PDF of the slide presentation.
Speakers:
Scott O’Malia, ISDA CEO
Overview and Current Status of Margin Rules for Non-Cleared Swaps
Mary Johannes, Head of US Public Policy, ISDA
ISDA’s WGMR Implementation Committee
Tomo Kodama, Managing Director, Bank of America Merrill Lynch
Standard Initial Margin Model (SIMM)
Katherine Darras, ISDA General Counsel, Americas
Key Legal and Operational Issues
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