By September 2020, phase 5 of UMR is expected to result in over 400 new firms exchanging Regulatory Initial Margin (Reg IM) for their OTC derivatives activity. Reg IM takes the form of collateral posted and received to reduce risk to a given counterparty.

Are you or your clients subject to phase 5 requirements?

Parties impacted by the phase 5 of the Uncleared Margining Rules (UMR), not yet having a direct contractual relationship with Euroclear, are invited to contact us for help with their onboarding and operational setup.

In order to meet the September 2020 regulatory deadline, all interested parties must get in touch with us by Tuesday, 31 March 2020 at the very latest.

Existing Euroclear customers are also welcome to refer their counterparties and underlying clients to us for assistance in meeting the UMR requirements.

Euroclear solutions

Some entities may be unlikely to have access to the necessary triparty collateral management services that will help facilitate efficient operations.

Euroclear can provide these services to you, your counterparties and your clients.

Time is of the essence

We are approaching a critical phase in the timeline for implementation, so please do not delay.

Requests to become a direct client after Tuesday, 31 March 2020 will be handled on a best-effort basis.

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