Dealers welcome US uncleared margin rules
Dealers have welcomed the US uncleared margin rules' restriction of variation margin to cash but acknowledge that buy-side derivatives users may not be pleased
Dealers have welcomed the US banking regulators' proposal to restrict variation margin for uncleared swaps to cash only, but acknowledge that the buy side will be upset at being denied the ability to post bonds.
"Personally, I'm very happy about it and I think it makes an awful lot of sense. It will make the market and the business a lot healthier and it would circumvent a lot of discussions we have with financial institutions about credit support annexes (CSAs) because the discussion has been
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