Margin Procyclicality – Curbing Future Risks?

In a  webinar May 15^th, a panel explores how anti-procyclicality margin measures for CCPs are evolving and what additional changes are needed to better mitigate risks in future periods of market volatility

Recent market volatility and consequent spikes in margin calls have renewed the industry’s and regulator’s focus on margin procyclicality within a CCPs. Last year, ESMA proposed revised technical standards that intend to harmonise procedures and policies for both selecting and reviewing anti-procyclicality margin measures.

These proposals follow on the heels of various industry papers and reviews proposing recommendations for improving margin practices, including the tools CCPs use to address margin procyclicality during periods of high market volatility. Recommendations call for both greater transparency of how margin models operate within a CCP and the need to address limitations of current methods for measuring CCP Initial Margin model responsiveness in times of market stress.

In a webinar, a panel explores the current recommendations for improving CCP margin procyclicality and how all stakeholders – CCPs, Clearing Members and Clients – can work together to improve the anti-procyclicality procedures and tools to mitigate risk in the future.

Speakers:

• Richard Metcalfe, Head of Regulatory Affairs, World Federation of Exchanges (WFE)
• Joshua Hurley, Director, Banks and Markets, Davies Group
• Moderator: Julia Schieffer, Managing Editor, com

Register now