Variation margin
WHAT IS THIS? Variation margin is a payment – typically made daily, in cash – to reflect changes in the market value of a trade, or portfolio of trades. In over-the-counter derivatives markets, variation margin is traditionally seen as a buffer against counterparty default; in listed derivatives, it is treated as settlement.
How the CCP location debate helped split the EU
Location, location, location
CFTC urged to rethink rules that threaten cross-margining
Pushed to the margins
CFTC urged to rethink rules that threaten cross-margining
The cross-product margining maze
From micro to macro: Basel III tools eyed as systemic risk controls
Keeping the lid on
Margin minutiae at issue in Jefferies v IDCG suit
Mire in margin minutiae
In defence of cross-product margining
In defence of cross-product margining
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge
CME and IDCG revalue swaps using OIS discounting
Switch to OIS comes a year after SwapClear revalued parts of its portfolio
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge
Fannie Mae says FHFA's margin rules would drive up hedging costs
US mortgage giant says segregating variation margin will hurt FHFA- and FCA-regulated entities, and create new funding obligations for swap dealers
Central bank liquidity would help CCPs in distressed situations, says BIS
BIS weighs in on CCP central bank liquidity access debate