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At a recent meeting with the Financial Sector Conduct Authority, some clarity was given on which entities will be impacted by the proposed Margin Requirements for Non-Centrally Cleared OTC Derivative Transactions (hereafter referred to as the VM Rules).

Whilst it is wel...

Regulations issued by the FRB, the FDIC and the OCC (‘US Stay Regulations’) require US global systemically important banks (‘GSIBs’) and US branches and subsidiaries of foreign GSIBs to amend certain qualified financial contracts (‘QFCs’) with their clients, regardless...

As we launch ourselves into the second half of 2019, here’s a snapshot of what we can expect in the derivatives market: 

  1. US Resolution Stay regulations will apply to financial institutions dealing with US GSIBs from 1 July 2019 

  2. Phase 4 IM implementation in Sep...

This year’s ISDA® conference highlighted the enormous task that will be required from a documentation point of view to ensure compliance with the initial margin requirements. The EMIR regulations are approaching phase 4 (September 2019) and phase 5 (September 2020) of...

The Financial Sector Conduct Authority has extended the deadline for registration of OTC Derivative Providers (ODPs) to 14 June 2019. This will be a relief to many ODPs who are struggling to complete the lengthy application forms and provide all the required suppo...

This DerivSource article, by Prashant Panjwani (a Manager with the Business Consulting team at Publicis.Sapient​), details why and how the confirmations process should be automated.

DeriviDoc Founder and Director, Melissa van der Merwe, attended the Risk South Africa (RiskSA) conference in Cape Town in October last year and found the panel discussion on central clearing of particular interest. Read her summary of the discussion below.

RiskSA c...

Central Clearing is a key component of regulatory reforms for OTC derivatives. A centrally cleared transaction will be cheaper than a bespoke bilateral. 

This extract, from a paper called 'The Economics of Central Clearing: Theory and Practice' by Craig Pirrong, ex...

This article (04 September 2018) by Clinton van Loggerenberg and Kelle Gagné (from ENSafrica) gives an outline as to changes we are likely to see implemented in terms of South Africa's Insolvency Act in 2019.

ENS gives an overview of how the Insolvency Act in South Afri...

The year 2019 is upon us and as we look forward, we can expect to see the derivatives market being focused again on further regulatory changes.  

In the local South African market the most anticipated reform will be around the finalisation and implementation of the...

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Who is In Scope for the Variation Margin Rules in South Africa – the Buy-side Need to be Prepared!

October 25, 2019

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