Giancarlo: March VM deadline is ‘massive challenge’
CFTC commissioner calls on regulators to address buy-side concerns if needed
The March deadline for swaps market participants to start posting variation margin (VM) will pose a "massive challenge", according to J. Christopher Giancarlo, commissioner at the US Commodity Futures Trading Commission. Giancarlo said the deadline is "unrealistic" and called on fellow regulators to ease the transition.
Starting in March, most participants in non-cleared derivatives markets must
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