LONDON, March 20 (Bernama-BUSINESS WIRE) — SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced its partnership with Cassini Systems, the leading provider of pre and post trade margin analytics for buy side derivatives trading, to help financial institutions comply with BCBS-IOSCO margin requirements for uncleared OTC derivatives.
BCBS-IOSCO defines rules for margin requirements on Uncleared Over-the-Counter (OTC) derivatives known as Uncleared Margin Rules (UMR). ISDA has developed a Standard Initial Margin Model (SIMM) that can be used by market participants to provide a transparent and standardised margin methodology of bi-lateral trades. The roll out of UMR rules has now reached the buy side with phase 4 firms coming into scope in September 2019, and phase 5 firms in September 2020.