CFTC’s GMAC: Bank Capital Proposals Will Harm Cleared Derivatives Markets and Improvements Needed to Variation Margin Processes in Non-Cleared Markets
The BR Derivatives Report
The Global Markets Advisory Committee (“GMAC”) of the U.S. Commodity Futures Trading Commission (“CFTC”) issued on June 4, 2024, a report on cleared derivatives and recommendations for non-cleared derivatives that will be of interest to all derivatives markets participants (i.e., dealers and buy-side firms).
The report focused on the potential adverse impact of two recent bank regulatory proposals on the cleared derivatives markets, while the recommendations related to improvements to the efficiency of variation margin post-trade processes in the non-centrally cleared derivatives markets.
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