Dealers crack down on clients with dual netting sets
Pricing adjustments for posting non-cash collateral can run to 100bp
Some dealers are refusing to trade with clients that opted to sign new collateral agreements to comply with the non-cleared margin rules rather than amending existing ones.
The problem affects end-users that kept their old credit support annexes (CSAs) for legacy positions and signed new agreements to cover trades executed after the March 1 deadline to begin exchanging variation margin.
Those
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