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March margin deadline may force clients onto new CSAs
Dealers say they lack capacity to renegotiate thousands of existing collateral agreements
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Dealers warn that thousands of clients may be forced to sign new derivatives collateral agreements with standardised terms in order to trade non-cleared swaps beyond March 2017.
New margin rules for non-cleared derivatives came into force in the US, Japan and Canada on September 1, 2016, requiring the largest dealers to post initial and variation margin on non-cleared over-the-counter derivatives trades. From March 1, most other counterparties must post variation margin on trades.
Ahead of March
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