DTCC's Fixed Income Clearing Corporation (FICC) has been conducting workshops to help customers prepare for the introduction of an intraday risk management cycle. The changes will be put into action in conjunction with the start-up of New York Portfolio Clearing, which is awaiting regulatory approval to begin operation.
The workshops are designed to help FICC participants understand the mechanics and operational issues associated with the introduction of an intraday margin call and, for Government Securities Division members, a new afternoon funds-only settlement cycle. "Our goal is to ensure everyone in the business is fully briefed on these impending changes," said Adrien Vanderlinden, DTCC director, FICC Product Management.
Up to 50 customers, including those who came in person and those who dialed in, attended some of the workshops, according to Vanderlinden. "The sessions were interactive and we received lots of good questions," he said.
Two customers who participated in a workshop at DTCC's New York offices said they found it to be quite helpful in spelling out the plans and requirements companies need to meet in order to prepare for intraday margining.
Another attendee concurred. "I have a much better grasp of what's involved in dealing with an intraday margin call," she said.
Additional workshops are set for noon-2 p.m., September 30; and 11 a.m.-1 p.m. October 7. @
[To register for a workshop, contact your relationship manager or go to https://www.surveymonkey.com/s/6FXVZLP.]