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Mandatory margin rules for uncleared OTC deals delayed

IOSCO and the Bank of International Settlements yesterday announced that the upcoming rules which require those who trade bilateral uncleared OTC derivatives trades (over 50m Euro) to post initial and variation margin will be delayed by 9 months. The full press release can be found here.

The rules were to come in at the end of this year, in a phased approach initially covering only the largest companies. The phase in was stepped with the lowest group (those with outstanding notional of over 8bn Euro, including hedges) needing to comply with the rules from the end of 2019. All of the phases have been delayed by 9 months so the smallest group will now only see those rules in place from September 2020.

ISDA also welcomed the new with this statement.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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