CFTC delayed by six months on Monday action against US firms over VM rules
The post-trade arm of Nex, formerly Icap,
said it sees no major affect from the US decision on Monday to
delay by six months the enforcement of controversial variation
margin rules, arguing firms still face major challenges.
US futures watchdog issued on Monday a
no-action letter stating that, while the deadline for
compliance with the variation margin rules is still March 1,
the swaps regulator will not enforce action against swap
dealers for failure to comply with the rules until after
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