EU will stick to March 1 variation margin deadline

US regulators also unlikely to delay as a result, say dealers

European Commission
The EC is sticking to its deadline despite industry protests

The European Commission (EC) has said it will not delay the March 1 start of mandatory variation margining for non-cleared derivatives, despite fears that many market participants will struggle to meet the deadline. With four weeks left, individual banks say they have completed the required paperwork with between 2% and 10% of their counterparties. The EC's stance has disappointed dealers and may also scupper the possibility of a delay in the US following earlier positive signs from the Comm

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