O'Malia: US margin splits ‘very difficult’ for OTC market
Isda CEO criticises clashing rules on bilateral margin
US regulators have put dealers in "a very difficult position", according to Scott O'Malia, chief executive of the International Swaps and Derivatives Association, by diverging from each other on bilateral margin rules and splitting from their foreign counterparts.
"It's extraordinarily difficult," O'Malia told reporters at Isda's annual European conference in London today (September 22). "You can't necessarily comply with two different regulations at once, so we've asked for a substituted
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