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.
Counterparties with IM under 50M don't need to exchange gross IM and execute the collateral (IM CSA/IM CSD) and custodian documentation (ACA,CTA, SA & ECS).
So, it is imperative that your firm “acts diligently” to either never breach 50M IM limit or prepare well in advance to exchange IM when required.
Our IM Threshold Service is an interactive tool that can allow a firm to manage either of the objectives. The IM Threshold service provides a multi-limit smart alert system and facilitates the migration from Monitoring to Exchanging Gross IM.
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.
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