Eight months needed for smooth Asia variation margin roll-out
The alternative is an unprecedented repapering exercise, writes Isda's Scott O'Malia
Scott O'Malia is chief executive officer of the International Swaps and Derivatives Association
New margin rules for non-cleared derivatives took effect in Canada, Japan and the US on September 1, requiring 20 or so banks to start exchanging initial (IM) and variation margin (VM). Still ahead is phase-one implementation in the EU and across Asia-Pacific. The lessons learned to date have important
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