Since September 2016, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions' (IOSCO) margin requirements for non-cleared derivatives global framework, recommends firms to post initial margin by T+1.
In 2017, buy and sell side firms will also be required to exchange variation margin daily, leaving a huge operational task to prepare for the future.
The Depository Trust & Clearing Corporation (DTCC) has responded to this by building Collateral Standing Settlement Instruction (SSI) functionality in ALERT to help clients with their initial and variation margin movements.
Want to learn more?
ALERT & Managing Collateral SSIs Factsheet
Margin Transit Utility Factsheet