External Meetings: Meeting with ICI

Participants discussed the proposed margin rule for uncleared swaps. The particular issues were: cash-only variation margin; segregation of variation margin; custodian choice for excess margin; aggregation rules (definition of affiliate); implementation timeline; international harmonization and substituted compliance; and definition of eligible master netting agreement.
V. Capital & Margin

CFTC Staff
John Lawton, Francis Kuo, Paul Schlichting, Stephen Kane, David Aron, Rafael Martinez
William Thum (Vanguard)

Predrag Rogic (T.Rowe Price)

Jennifer S. Choi (ICI)

Sarah A. Bessin (ICI)
Investment Company Institute (ICI)