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Swaps Collateral Rules Risk Splintering Market

European Union is sticking to its March 1 deadline for variation margin.

By Silla Brush and Alexander Weber, Bloomberg | Updated on February 01, 2017

Global regulators’ plans for a coordinated start next month to swap-collateral rules are breaking down, with countries taking different approaches to the deadline and traders in the $544 trillion industry scrambling to get ready.

The European Union plans to stick to the March 1 start date, and regulators have little power to quickly adjust laws after they go on the books, according to an EU official. In Hong Kong, Singapore and Australia, authorities granted the industry six months to phase in the requirement, eager to avoid a messy start to a key policy intended to make the market safer following the 2008 financial crisis.

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