The ISDA Margin Survey analyzes the amount and type of initial margin (IM) and variation margin (VM) posted for non-cleared derivatives. The survey also reviews IM posted by all market participants to major central counterparties (CCPs) for their cleared interest rate derivatives (IRD) and credit default swap (CDS) transactions.
IM and VM collected by leading derivatives market participants subject to the margin rules totaled $1.4 trillion at year-end 2023, flat compared with 2022. This included $462.0 billion of IM and $944.5 billion of VM.
The survey also finds that $392.2 billion of IM was posted by all market participants to major CCPs for their cleared IRD and CDS transactions at the end of 2023.
Read the full survey by clicking on the PDF below.
Documents (1) for ISDA Margin Survey Year-end 2023
Latest
Marking a Milestone - IQ January 2025
It was a different time and a very different market, but 1985 remains a seminal year in the history of over-the-counter (OTC) derivatives – the year that ISDA was established and the very first industry standard document was published. While...
Response to FCA on SI Regime
On January 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) responded to questions from the UK Financial Conduct Authority (FCA) on the future of the systematic internalizer (SI) regime. In the response,...
Response to CSA on Clearing Obligation
On December 19, ISDA submitted a response to the Canadian Securities Administrators (CSA) consultation on proposed amendments to the clearing obligation in Canada. The CSA invited comments on the proposed amendments and on the specific question set out in Annex B...
Derivatives Regulations and Usage in Japan
Japan’s regulatory landscape has generally been supportive of derivatives use by various segments of the buy side. While there are some guidelines on the purposes for which derivatives can be used by certain entities, which are not unique to Japan,...