Industry ‘won’t bother’ with one-time rehypothecation

Critics say a limited provision in new WGMR rules for dealers to rehypothecate client collateral is impractical and offers no benefit to clients


The derivatives industry is unlikely to use a new provision allowing limited rehypothecation of the margin on uncleared trades, because end-users will see no benefit, critics claim.

The provision appeared in final margin requirements for non-cleared derivatives, published on September 2 by the Working Group on Margining Requirements (WGMR), a body jointly run by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions. It allows dealers to

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