Banks, hedge funds should get relief from OTC swaps margin rules, CFTC's Tarbert says

25 September 2019 8:10am
Banks and hedge funds with relatively little derivatives activity should get an extension on having to prepare their systems for over-the-counter swaps margin standards, US Commodity Futures Trading Commission Chairman Heath Tarbert said.

The CFTC will vote “in the near future” on whether to issue a proposal on initial-margin documentation, as well as custodial and operational, requirements due to go into effect in September 2020, he told a Global Markets Advisory Committee meeting today.