United States:
FINRA Extends CDS Margin Pilot Program
18 June 2018
Cadwalader, Wickersham & Taft LLP
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FINRA proposed a rule change to extend the credit
default swap ("CDS") margin pilot program in
FINRA Rule 4240 to July 18, 2019. The program, which is set to
expire on July 18, 2018, concerns margin requirements for certain
transactions in credit default swaps that are security-based swaps.
FINRA requested an extension to consider (i) the "continuing
development of the CDS business and ongoing regulatory
developments" and (ii) additional amendments to the pilot
program.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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