Isda pushes to ‘decouple’ Simm calibration from model changes

Emir 3.0 prompts effort to separate risk-weight revisions from methodology updates


The International Swaps and Derivatives Association is planning to ‘decouple’ the recalibration of its standard initial margin model (Simm) from more substantial model updates, which require regulatory approval.

The proposal, which Isda presented to global regulators last week, aims to address a quirk in new European Union rules that threatened to derail a wider effort to improve Simm’s responsiveness to market events.

“We started to think about how we could futureproof a process that would work

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