Standard CSA: Industry's solution to novation bottleneck gets nearer

New CSA, new challenge

Michael Clarke
Michael Clarke, UBS: multiple methods of collateral settlement would be a "prudent" move

Given the volume of regulatory change being forced through the market, it might seem strange that the derivatives industry is mobilising so much of its collective effort on a seemingly dull initiative that isn’t even on the regulatory agenda – the drawing up of a new standard template for the exchange of collateral in the over-the-counter market.

Dig a little deeper, however, and it starts making sense: the existing credit support annex (CSA) has become the source of regular collateral and valuat

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