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Aima launches OTC derivative guidelines
01 July 2014
Guidelines provide guidance on the new regulatory framework for OTC derivatives clearing in the US and EU
The Alternative Investment Management Association (Aima) has
published over-the-counter (OTC) derivatives clearing
guidelines for asset managers.
Aima’s Guide to Sound Practices for OTC
Derivatives Clearing provides guidance on the new
regulatory framework in the US and EU, which affects most OTC
derivative transactions cleared globally.
"These guidelines are unprecedented in detail and scope. We
hope they are of use to our member firms as they set out to
navigate the increasingly complex legal and operational
requirements introduced under the post-crisis OTC derivatives
clearing reforms," said Jack Inglis, CEO of Aima.
The guide is supplemented by a due-diligence questionnaire for
clearing members, which is intended to help asset managers
during the process of evaluating different clearing members and
"This initiative underlines our shared commitment to central
clearing, which reduces counterparty-credit risk and systemic
risk, and to the role that we all can play in helping to ensure
the smooth and timely implementation of these important
regulatory reforms," added Inglis.
The drafting of both papers was assisted by Simmons&Simmons
and Seward&Kissel, and supported by a working group of
Aima’s manager and sell-side members. The papers
are sponsored by CME Group.