BCBS-IOSCO note that the framework does not specify documentation requirements. It is expected that covered entities will act diligently.
IM requirements are quantitative and qualitative, have you understood the 7 key steps to compliance and go-live?
Can your platforms manage regulatory and Next-Gen docs and integrate with pricing, liquidity, funding and collateral technologies?
What is your strategy for on-boarding, documentation, connectivity, optimisation, settlement and reconciliation?
Predicted number of firms impacted for Phase 4 UMR
Number of newly in-scope counterparties (NISCs) for Phase 5 UMR
Number of new relationships subject to Phase 5 UMR
Number of segregated IM custody accounts that must be setup and tested for Phase 5 UMR
Margin Reform provides you with a practitioner-led consultancy who bring deep and deliberate expertise to the Collateral, Margin and Legal domain. Extensive implementation experience, industry knowledge, and successful partnerships mean Margin Reform is positioned to bring your requirements to fruition in a scalable and structured way.
How we differentiate…
- Regulatory Rules Tracker (RRT)
- Legal Agreement Playbooks
- IM Custodian RFI & RFP selection questions
- ISDA SIMM Model documentation templates
- Expertise in delivering across a range of collateral providers and engagements
- A partner of buy/sell-side institutions
- A partner of and market infrastructure providers and legal firms
- Regular participant on industry panels, events and roundtables
- Writer of published articles relating to Collateral & Margining
Has changed fundamentally from a credit risk mitigant and operational risk process to a critical segment of business strategy within financial markets and can be viewed as a product in its own right.
Understanding all front to back aspects of collateral is complicated, there are many facets to consider such as pricing, funding, liquidity, optimisation, operational capacity and risk. Uncleared Margin Rules have exacerbated this with their requirements such as regulatory Initial Margin, SIMM and Custody. Margin Reform will add clarity to ‘collateral’ whether to support regulations, business drivers or the enhancement of existing processes.
Legacy and out-of-date business practices have in a lot of instances left an under developed and fragmented margin strategy, strewn across internal silos.
All products in the margin sphere, derivatives, cleared and uncleared, securities lending all need to be supported by a well-defined technology roadmap, that delivers straight-through-processing across different business functions who truly understand their role in the ‘collateral management framework’. This is where Margin Reform want you to be.
The contracts supporting collateral and margining are inextricably linked to the success of your day to day operations.
Ensuring the correct data is captured as golden source is critical for efficient pricing and processing. The complexity and far reaching impact of Uncleared Margin Rules has led to several issues that require better negotiation techniques, smarter technology and improved digitisation. Margin Reform are at the forefront of these solutions and can help you deliver the business process models required.
Chetan Joshi is the founding partner of Margin Reform.
A boutique management consultancy that provides advice and solutions to firms who require help navigating through their challenges in the margin, collateral and legal space.
Chetan has over 20 years’ experience in the collateral domain.
Having held roles in Operations, Technology Consultancy and Front Office, Chetan is a regular speaker at industry conferences and webinars and has delivered workshops and training sessions on collateral specifically focused on the Uncleared Margin Rules (UMR).
Margin Reform brings experience and focus.
The design and structure of your approach to UMR will multiply your chances of a positive transformation and implementation experience.
How to reach us
White Collar Factory
1 Old Street Yard
+44 (0) 20 3662 8805
+44 (0) 794 727 6667