Ice postpones migration to VAR in bid to improve offsets

Clearing house will move on freight products before energy, as users fret over margin spikes

Ice Clear Europe headquarters, Chiswell Street, London
Ice Clear Europe headquarters, London
Chris Batson/Alamy Stock Photo

A leading European clearing house has postponed plans to move to an upgraded margin model based on value-at-risk, in the latest sign that the risk methodology is proving difficult to implement.

Ice Clear Europe had planned to move energy products from its existing IRM 1 model, which uses the less risk-sensitive Span methodology, to the VAR-based IRM 2, in June this year, with testing to be completed in May.

“Following extensive consultation with our clearing members, clients and associated

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