Non-cleared margin logjam looms after squandered delay Fewer than half of phase five firms have submitted documentation necessary to open custody accounts Print this page
Buy-side firms could struggle to meet the already delayed deadline for complying with the fifth wave of the non-cleared margin rules after many of them wasted a 12-month extension granted by regulators in response to the Covid-19 pandemic. Firms with more than €50 billion equivalent in average aggregate notional amount (AANA) of over-the-counter derivatives will be required to start exchanging initial margin with counterparties from September 1, if they exceed the minimum exchange threshold of Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.