RegTalks Podcast – Uncleared Margin Requirements

23 July 2021

Legislating for the clearing and margining of derivatives trades has been a major undertaking for the world’s regulators since the 2008 financial crisis, with many new rules related to this topic having come into force in the intervening years. As part of this legislative programme, BCBS-IOSCO’s global Uncleared Margin Requirements phases 5 and 6 are scheduled to apply from 1 September 2021 and 2022 respectively. Many firms not yet in scope will now need to comply, meaning that they will have to have in place inter alia the operational processes to support the margin calculation, exchange and custody arrangements involved.

Henry Raschen, Director, Regulatory Outlook at HSBC’s Securities Services discusses the requirements and implications of UMR with Craig Cowe, Director, Collateral Product Management and Helen Baker, Director, Global Custody Product Management.

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