Custody battle: competing tensions put IM prep in jeopardy

Conflicting custody interests and delayed docs call IM phase five readiness into question

The line is drawn. For more than 300 firms, the deadline to start exchanging initial margin on non-cleared derivatives is now just seven months away. And nerves are starting to jangle.

Funds need to select custodians and negotiate new documents for their collateral arrangements. But some custodians’ reluctance to support a new model for receiving collateral – and delays in publishing new custody agreements – are stalling preparations. It’s heightening fears of a logjam as the deadline for the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here