Regulators plan to delay IM ‘big bang’ – market sources

Most see final phase of initial margin rules coming a year later, in September 2021

head time delay - Getty
Moving deadline: regulators expected to announce one-year delay to fifth and final phase of IM rules

Market participants expect regulators to announce a one-year delay to the fifth and final phase of the initial margin rules for non-cleared derivatives, which had been due to take effect in September 2020.

Not only do FX market participants form a big chunk of the last tranche of covered firms, but providers of prime brokerage services have complained in recent months that the non-cleared margin regime will drive up costs for the service through the mandatory posting of initial margin to both

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