DTCC’s Hasan Rauf, Executive Director and Head of Business Development – Asia Pacific, speaks on Phase 6 of the BCBS – IOSCO’s Uncleared Margin Rules (UMR), which will go into effect in September 2022. This final phase brings more than 700 firms into scope, with Average Aggregate Notional Amount (AANA) threshold being $8 billion, as opposed to Phase 5’s AANA of $50 billion.
Manual processes cannot keep up with the volume of collateral management that buyside firms and institutions will face under UMR or during future market volatility. With six months to go until the Phase 6 implementation date, the time to automate is now.
Related: It's Time to Review Trade Exceptions in Asia Pacific