US regulators are ignoring pleas to ease variation margin settlement rules ahead of a looming March deadline, dealers claim. If the rules remain unchanged, they say many buy-side firms will face a stark choice between violating them or not trading non-cleared derivatives when the new regime goes live.
Under the forthcoming variation margin framework, most derivatives end-users will be required to post variation margin on new trades. That variation margin must be posted to counterparties the day
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