Be prepared for the Uncleared Margin Rules (UMR) has been saved
Be prepared for the Uncleared Margin Rules (UMR)
New Margin Rules for uncleared derivatives (UMR) transactions
The global regulatory agenda covering the over-the-counter derivatives market participants recommends, among other things, the implementation of margin requirements for non-centrally cleared derivatives.
As per EMIR, the implementation of variation margin (VM) requirements occurred in March 2017, while initial margin (IM) requirements continue to phase-in annually through 2020.
Newly In-Scope Counterparties (NISC) will have to address a set of challenges to achieve compliance with the new UMR.