Preparing for Intraday Margining
Fixed Income Services
Intraday margining will bring changes to GSD members’ everyday operations.
Intraday margining will go into effect for FICC's government securities members with the launch of New York Portfolio Clearing, which is tentatively scheduled to begin full operations in March 2011.
Video: Operational Changes for FICC Members
Intraday Margining Calls: What's Coming, and How to Prepare
Presented by: Adrien Vanderlinden and Maria Dwyer, FICC Product Managament
Quick Summary of Operational Changes
| MBSD Members | GSD Members | |
|---|---|---|
Intraday Clearing Fund Requirement | No intraday margin call | Prepare for additional margin calls, due by 2:45 PM Intraday Clearing Fund Requirement available by 2:00 PM Clearing Fund Requirement consolidated between GSD accounts and GSD / NYPC accounts as per margin elections |
| Intraday Funds-Only Settlement | No change to current processes | Prepare for additional Funds-Only settlement, processed by NSS at 3:15 PM (reflecting mark-to-market of 12:00 PM positions) Cash flows netted between GSD accounts and GSD/NYPC accounts as per margin elections |