ISDA estimates, over 1,100 counterparties with ~9000 new relationships will be subjected to the uncleared margin rules in Phase 5 and 6. All financial firms who trade non-cleared derivatives should perform an AANA calculation to evaluate whether it needs to comply with UMR Rules, and if so when.
AANA calculations are simple notional aggregations, but that’s where the simplicity ends. AANA calculations are jurisdiction-specific, and the correct trade selection is critical. InitialMargin.Online can provide an end to end consultation and calculation service for AANA.
InitialMargin.Online is an official vendor for ISDA SIMM.
Under UMR rules, if IM is over group threshold, IM must be posted and collected on a daily basis.
We provide a complete IM workflow service.
Our system supports IM calculation based on SIMM and Grid models along with an Addon facility. IM margin can be calculated on a daily and a real-time basis. We provide an interactive view and visual management information to support counterparty analysis.
Trading counterparts who will not breach the fifty million group threshold can now "act diligently", which means monitoring their initial margin exposure. This allows the initial margin documentation requirements for collateral (IM CSA/CSD) and Custodians (ACA, CTA, SA & ECS) to be delayed until they are required.
Our IM threshold monitoring service is an intelligent interactive tool that provides a multi limit alert system that will provide the diligence and facilitate the decision to migrate from monitoring to exchanging gross initial margin via soft limit management.
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