EC: No plans to delay IM phase five
EC official says Europe will go ahead with phase five initial margin requirements set to come into effect in September
A senior European Commission official has poured cold water on industry hopes of a delay to the next phase of the initial margin requirement for non-cleared derivatives on the back of disruption caused by the coronavirus.
Patrick Pearson, head of the financial market infrastructure and derivatives unit at the EC, told Risk.net in an email that the commission has no intention of postponing the September deadline and that it has not heard any concerns from the industry regarding preparations.
He
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