Buy-side FX trading curbed as margin rules take hold

Prime brokers will cut off access to dealers if they fail to agree revised CSAs

No go: buy-side firms will be prevented from trading with some dealers

Buy-side firms will be unable to trade foreign exchange derivatives with scores of dealers when new non-cleared margin rules take effect in the US and Japan on September 1.

Foreign exchange prime brokers have been racing to finalise collateral agreements and other documentation necessary to continue trading with executing dealers under the non-cleared margin regime. Those efforts have yielded mixed results.

"We have come across a range of preparedness among prime brokers," says James Wood

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: