Buy-side firms seek ‘urgent’ VM relief

Two-thirds of firms have not signed any CSAs that comply with the new rules

Buy side wants more time to prepare for VM regime

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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