The session which took place in Milan covered project design, segregation, legal requirements, margin calculation and reconciliation, collateral schedule management, collateral optimization and transformation, and synergies with Securities Finance. Requirements to post initial margin (IM) on uncleared OTC derivative trades are being implemented in many of the world’s major economies. This change presents a number of funding, legal, operational and compliance challenges for derivatives market participants. BNY Mellon Markets, Mayer Brown, IHS Markit and Danske Bank hosted a forum to discuss, the latest thinking and best practices regarding UMR. Mayer Brown Mayer Brown Global Head of Derivatives & Structured Products presented on the legal aspects of this area.
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