O’Malia: renegotiate VM docs now to avoid March mayhem

Risk USA: variation margin deadline much tougher than September 1, Isda chief warns

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Time running out: banks need to renegotiate trades now to be ready for March 1

Market participants should already be negotiating with counterparties to embed the mandatory exchange of variation margin (VM) in derivatives documentation or face a repeat of the turmoil that blighted the US implementation of mandatory initial margin (IM) posting on bilateral swaps in September.

Speaking at the Risk USA conference in New York, the International Swaps and Derivatives Association chief executive, Scott O'Malia, warned the March 1, 2017 deadline for the commencement of mandatory

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