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Novatus Global

Sep

1

2021

1- Minute Read

Deadline for Phase 5 of Initial Margin Requirements

The deadline for the 5th initial margin phase-in is today, capturing firms with over €50 billion in aggregate average notional amount of non-centrally cleared derivatives. The implementation date had been postponed from 2020 to align with the phases and thresholds of the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) standards.

Phase 6, covering firms with over €8 billion in aggregate average notional amount, will be implemented from 1 September 2022. Novatus can support you with the entire process of implementation, from IM calculations and vendor selections to custodian onboarding and regulatory gap analysis

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