Regulators deaf to variation margin concerns, say dealers
Banks told they cannot lobby on behalf of clients over looming variation margin rules
US regulators are ignoring pleas to ease variation margin settlement rules ahead of a looming March deadline, dealers claim. If the rules remain unchanged, they say many buy-side firms will face a stark choice between violating them or not trading non-cleared derivatives when the new regime goes live.
Under the forthcoming variation margin framework, most derivatives end-users will be required to post variation margin on new trades. That variation margin must be posted to counterparties the day
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