DE Shaw sees $65m swaps margin threshold as exposure cap

Isda AGM: Hedge fund plans to share non-cleared swaps around to reduce trading costs

DE Shaw: US funds face higher uncleared margin cost

DE Shaw will share its swaps business around a larger number of banks in an attempt to limit costs relating to incoming margin rules, a lawyer at the hedge fund has said.

The rules require swaps market participants to post initial margin to each other for the first time when trading non-cleared products, but allow firms to carry a limited amount of uncollateralised exposure. In the US, the threshold is set at $65 million, while European firms can have €50 million of exposure before they have to

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