Phase five margin queues spur calls for custody revamp

Custodians are being urged to update “antiquated technology” ahead of a three-fold jump in phase six initial margin onboarding.

The latest wave of initial margin rules for non-cleared derivatives has left market participants at sixes and sevens. Or should that be, at fives and sixes.

Phase five of the rules was marred by lengthy documentation queues as more than 300 mainly buy-siders scrambled to open thousands of custody accounts before the September 1 deadline. Fears are growing that firms caught in phase six, due next September, will face the same chaotic fate.

Many phase five firms were forced to rely on emergency

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The IMD Wrap: Taking stock of inventory management

With market data and associated costs typically representing a firm’s third-largest expense, there’s a lot of incentive to manage data and its usage more efficiently. Max flings open his fridge to illustrate what’s new in this space.

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