Cassini Systems, the award-winning leading market provider for pre and post trade analytics for derivatives trading, and Margin Reform, a new boutique management consultancy within the financial services space, today announced a new joint service to assist all buy-side participants with understanding and implementing solutions for Uncleared Margin Rule (UMR) regulations.
This on-site UMR Scoping and Planning Workshop Service highlights the crucial steps and timelines – tailored to each firms’ needs – to comply with the Uncleared Margin Rules. This includes back-testing and benchmarking, where required. Through a combination of Margin Reform’s experience in delivering UMR programmes and Cassini’s expertise in OTC margin calculation, analysis & optimisation we provide a guide to effectively manage your UMR and ISDA SIMM implementation. Furthermore, it includes a portfolio analysis snapshot of the margin and collateral impact of your in-scope bilateral derivatives.
This new service, availability immediately, is a quick and affordable way for all buy-side firms to get a clear view on their UMR planning and capital impact. For further information on the UMR Scoping and Planning Workshop Service or to get in contact, please visit: https://cassinisystems.
As per BCBS/IOSCO’s framework, the uncleared margin rules began to be phased-in from September 1, 2016 for the largest market participants, while Phase 4 and 5 Initial Margin (IM) requirements kick in as of 1 September 2019 and 2020, respectively.
Liam Huxley, CEO and Founder of Cassini Systems said: “Our partnership with Margin Reform brings a new, easily accessible and affordable solution for firms needing assistance in their approach to the UMR requirements. It focuses on how exactly to implement a UMR and ISDA SIMM solution, in what timeframe, and how to mitigate its impact on your liquidity and P&L”.
Chetan Joshi, Founding Partner of Margin Reform said: “I am very excited to have Cassini as one of our prestigious partners to help market participants understand, prepare, and most importantly solve for the impending regulations that will effect a large part of the market impacted by Uncleared Margin Rules.
At Margin Reform, we believe that partnering and integrating with specialised technologies such as Cassini is transformational in your journey – enabling you to reduce transactional and operational costs and ultimately leading to efficiency across your collateral operating model”.