Variation Margin Gains Hedging - Revision history

Doug: Layout.

2024-02-08T04:29:36Z

Layout.

← Older revision		Revision as of 04:29, 8 February 2024
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	In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members.		In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members.


	A Reserve Bank of Australia Bulletin found that some CCPs " .... each have rules allowing for VMGH (and the complete tearing up of open contracts) where prefunded financial resources have been exhausted by the default of a participant".		A Reserve Bank of Australia Bulletin found that some CCPs " .... each have rules allowing for VMGH (and the complete tearing up of open contracts) where prefunded financial resources have been exhausted by the default of a participant".
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	==See also==		==See also==
	* [[Central counterparty]]		* [[Central counterparty]] (CCP)
	* [[Haircut]]		* [[Haircut]]
	* [[Resolution]]		* [[Resolution]]
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	==Other resource==		==Other resource==
	*[https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf "Recovery and Resolution of Central Counterparties" by Matt Gibson, December Quarter 2013]		*[https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf "Recovery and Resolution of Central Counterparties" by Matt Gibson, December Quarter 2013]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:The_business_context]]

Doug: Layout.

2024-02-08T04:28:52Z

Layout.

← Older revision		Revision as of 04:28, 8 February 2024
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	==Other ~~links~~==		==Other resource==
	[https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf "Recovery and Resolution of Central Counterparties" by Matt Gibson, December Quarter 2013]		*[https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf "Recovery and Resolution of Central Counterparties" by Matt Gibson, December Quarter 2013]

	~~[[Category:Context_of_treasury]]~~
	~~[[Category:Financial_risk_management]]~~
	~~[[Category:Treasury_operations]~~]

imported>Doug Williamson: Reword and rearrange to remove out of date names.

2020-02-27T11:53:38Z

Reword and rearrange to remove out of date names.

← Older revision		Revision as of 11:53, 27 February 2020
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	(VMGH).		(VMGH).

	Variation Margin Gains Haircutting is a concept considered in [[resolution]] of a [[central counterparty]] ([[CCP]]) whereby a CCP failing or at risk of failure can conserve or accumulate cash by cancelling or reducing the variation margin payments that it would otherwise have been required to make to ~~clearing members. In such proposals the idea is usually that it would also continue to collect variation margin payments due from~~ clearing members.		Variation Margin Gains Haircutting is a concept considered in resolution of a central counterparty (CCP) whereby a CCP failing or at risk of failure can conserve or accumulate cash by cancelling or reducing the variation margin payments that it would otherwise have been required to make to clearing members.

	A Reserve Bank of Australia Bulletin ~~of December Quarter 2013 article "Recovery and Resolution of Central Counterparties" by Matt Gibson~~ found that CCPs ~~such as~~ "~~The Japan Securities Clearing Corporation (JSCC), the UK-based LCH~~.~~Clearnet Ltd (LCH~~.~~C Ltd), CME Clearing Europe, and the French-based LCH~~.~~Clearnet SA (LCH~~.~~C SA)~~ each have rules allowing for VMGH [and the complete tearing up of open contracts] where prefunded financial resources have been exhausted by the default of a participant." ~~https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5~~.~~pdf~~		In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members.

			A Reserve Bank of Australia Bulletin found that some CCPs " .... each have rules allowing for VMGH (and the complete tearing up of open contracts) where prefunded financial resources have been exhausted by the default of a participant".


	==See also==		==See also==
			* [[Central counterparty]]
	* [[Haircut]]		* [[Haircut]]
			* [[Resolution]]
	* [[Variation margin]]		* [[Variation margin]]


			==Other links==
			[https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf "Recovery and Resolution of Central Counterparties" by Matt Gibson, December Quarter 2013]

	[[Category:Context_of_treasury]]		[[Category:Context_of_treasury]]
	[[Category:Financial_risk_management]]		[[Category:Financial_risk_management]]
	[[Category:Treasury_operations]]		[[Category:Treasury_operations]]

imported>Doug Williamson: Add links.

2019-03-13T10:44:00Z

Add links.

← Older revision		Revision as of 10:44, 13 March 2019
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	~~Variation Margin Gains Haircutting~~		(VMGH).

	(~~VMGH~~)		Variation Margin Gains Haircutting is a concept considered in [[resolution]] of a [[central counterparty]] ([[CCP]]) whereby a CCP failing or at risk of failure can conserve or accumulate cash by cancelling or reducing the variation margin payments that it would otherwise have been required to make to clearing members. In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members.

	A ~~concept considered in [[resolution]]~~ of ~~a [[central counterparty]]~~ ([~~[CCP~~]~~]) whereby a CCP failing or at risk of failure can conserve or accumulate cash~~ by ~~cancelling or reducing~~ the ~~variation margin payments that it would otherwise have been required to make to clearing members~~. ~~In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members~~.		A Reserve Bank of Australia Bulletin of December Quarter 2013 article "Recovery and Resolution of Central Counterparties" by Matt Gibson found that CCPs such as "The Japan Securities Clearing Corporation (JSCC), the UK-based LCH.Clearnet Ltd (LCH.C Ltd), CME Clearing Europe, and the French-based LCH.Clearnet SA (LCH.C SA) each have rules allowing for VMGH [and the complete tearing up of open contracts] where prefunded financial resources have been exhausted by the default of a participant." https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf

	A Reserve Bank of Australia Bulletin of December Quarter 2013 article "Recovery and Resolution of Central Counterparties" by Matt Gibson found that CCPs such as "The Japan Securities Clearing Corporation (JSCC), the UK-based LCH.Clearnet Ltd (LCH.C Ltd), CME Clearing Europe, and the French-based LCH.Clearnet SA (LCH.C SA) each have rules allowing for VMGH [~~and the complete tearing up of open contracts~~] ~~where prefunded financial resources have been exhausted by the default of a participant." https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf~~
			==See also==
			* [[Haircut]]
			* [[Variation margin]]

	[[Category:Context_of_treasury]]		[[Category:Context_of_treasury]]
	[[Category:Financial_risk_management]]		[[Category:Financial_risk_management]]
	[[Category:Treasury_operations]]		[[Category:Treasury_operations]]

imported>John Grout: To create entry

2019-03-05T16:18:33Z

To create entry

New page

Variation Margin Gains Haircutting

(VMGH)

A concept considered in [[resolution]] of a [[central counterparty]] ([[CCP]]) whereby a CCP failing or at risk of failure can conserve or accumulate cash by cancelling or reducing the variation margin payments that it would otherwise have been required to make to clearing members. In such proposals the idea is usually that it would also continue to collect variation margin payments due from clearing members.

A Reserve Bank of Australia Bulletin of December Quarter 2013 article "Recovery and Resolution of Central Counterparties" by Matt Gibson found that CCPs such as "The Japan Securities Clearing Corporation (JSCC), the UK-based LCH.Clearnet Ltd (LCH.C Ltd), CME Clearing Europe, and the French-based LCH.Clearnet SA (LCH.C SA) each have rules allowing for VMGH [and the complete tearing up of open contracts] where prefunded financial resources have been exhausted by the default of a participant." https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-5.pdf

[[Category:Context_of_treasury]]
[[Category:Financial_risk_management]]
[[Category:Treasury_operations]]