Non-cleared margin rules put spotlight on Blazer market hub

Trade and model mismatches will be key tests for vital margin call service

Mismatched trades could present problems for the new Blazer utility

An industry utility developed to automate margin calls will be under the spotlight from today (September 1) as Basel Committee rules governing initial margin (IM) for derivatives trades between major dealers come into force. US, Canadian and Japanese dealers will all be subject to the first wave of fully margined interbank trades.

The utility – referred to as Blazer after the internal name given to the project by its lead developer, Boston-based margin messaging service AcadiaSoft – has

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