Buy side continues with IM prep despite delays
Firms looking at custodian types, docs and trading strategies to optimise margin
Buy-side firms are far from putting their feet up after international standard-setters eased pressure on the 2020 phase of the non-cleared margin rules, market participants say.
Not only do FX market participants form a big chunk of the last tranche of covered firms, but providers of prime brokerage services have complained in recent months that the non-cleared margin regime will drive up costs for the service through the mandatory posting of initial margin to both clients and executing brokers
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