The ISDA Margin Survey looks at the impact of regulatory and other changes on collateral practices, and analyzes the amount and type of initial margin (IM) and variation margin posted for non-cleared derivatives, and the IM posted for cleared transactions.
The new survey finds that the 20 largest market participants (phase-one firms) collected approximately $173.2 billion of IM for their non-cleared derivatives transactions at year-end 2019. Of this amount, $105.2 billion was collected from counterparties currently in scope of the regulatory IM requirements. A further $68.0 billion of IM was collected from counterparties and/or for transactions that are not in scope of the margin rules (independent amount), including legacy transactions.
In addition to these amounts, phase-one firms reported that they collected $44.0 billion of IM for their inter-affiliate derivatives transactions at year-end 2019.
The survey also finds that $269.1 billion of IM was posted by all market participants to major central counterparties for their cleared interest rate derivatives and credit default swap transactions at the end of 2019.
Read the full survey by clicking on the attached PDF.
Documents (1) for ISDA Margin Survey Year-End 2019
Latest
New Selection Process for Standard Reference Obligations (SROs) FAQs
This Frequently Asked Questions (“FAQ”) document gives information about the new selection process for Standard Reference Obligations (SROs). Note that ISDA may update these FAQs on occasion. Please check back periodically for new versions.
Refreshing the FX Definitions
A lot has changed in the FX derivatives market since 1998, when the last set of standard definitions for FX transactions were published. Trading volumes have grown substantially, and average daily turnover has risen by six times. Market practices have...
ISDA & EMTA Publish New FX Definitions
ISDA and EMTA, Inc., the trade association for emerging markets, have jointly published a revised set of standard definitions for foreign exchange (FX) derivatives transactions, which update key market practices and consolidate various FX and FX-related product templates and provisions...
ISDA Position Paper on SFDR Review
On February 27, ISDA and the Association for Financial Markets in Europe (AFME) published a position paper on the European Commission’s (EC) proposed revisions to the Sustainable Finance Disclosure Regulation (SFDR 2.0). The paper welcomes the EC’s proposal as a...