CME delays Span 2 rollout till at least mid-2022

FCMs ask bourse to postpone long-planned switch to new VAR model to allow more time for testing

CME headquarters
Photo: Marco Verch/Flickr

CME Group has delayed the long-planned rollout of its new value-at-risk-based initial margin model to at least the middle of 2022, after some members asked for a delay to give clearing teams and software vendors more time to get ready for the switch.

CME released the finished version of the Span 2 software, including its new margin calculator, at the end of November. The framework was scheduled to go live for energy products between March and April next year, with clearing firms given the

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