- Classifying financial instruments traded. New Dodd-Frank derivatives regulatory requirements apply only to "swaps," "security-based swaps" and "mixed swaps."
- Determining the extent to which the regulations apply to the entity whose assets they trade as well as to the counterparties with whom they trade.
- Considering the implications of reporting requirements as well as the public transparency of swap transaction data.
- Preparing to clear specified swaps before the September 9, 2013 deadline. The Dodd-Frank Act requires market participants to clear standardized interest-rate and credit-default swaps through clearinghouses. Clearinghouses require initial margin (independent amounts) and variation margin (mark-to-market amounts).
- Confirming that a pension plan has adhered to ISDA protocols.
- Preparing for mandatory exchange trading of mandatory cleared swaps.
- Reviewing preparations with trading, clearing and custody partners and advisors in advance of the September 9, 2013 deadline.
BNY Mellon Asks Pension Plan Asset Managers: Are You Ready For Swap-Trading Requirements?
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