Page 16 - 期货和衍生品行业监管动态（2025年1月刊）

期货和衍生品行业监管动态

above-average variation margin calls through increased transparency and the efficient

collection and distribution of variation margin in centrally cleared markets.

In addition, the BCBS and IOSCO have published the final report Streamlining

variation margin processes and initial margin responsiveness of margin models in

non-centrally cleared markets. The report sets out eight recommendations to firms to

encourage the widespread implementation of good market practices. These practices

streamline variation margin processes and increase the responsiveness of initial

margin models.

The FSB’s Final report on Liquidity Preparedness for Margin and Collateral

Calls, published in December 2024, forms part of this work programme and

complements the BCBS, CPMI and IOSCO reports.

These reports should be read together as elements of a comprehensive approach

to improving transparency, streamlining margin processes, increasing the

predictability of margin requirements and improving the liquidity preparedness of

non-bank market participants for margin calls.

https://www.iosco.org/news/pdf/IOSCONEWS756.pdf

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