Buy-side firms seek ‘urgent’ VM relief

stopwatch-waters1116 — Buy side wants more time to prepare for VM regime

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Fund managers have completed less than 10% of the paperwork necessary to begin exchanging variation margin on non-cleared derivatives by March 1, a pair of industry associations are warning.

The asset management arm of Sifma, the US securities industry body, and the IAA, which represents advisory firms, made the claim in a letter sent to global regulators earlier today (January 24), which details the results of a recent survey of their member firms.

According to the trade bodies, the 42 asset

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