External Meetings: Meeting with SIFMA

Participants discussed the proposed margin rule  for uncleared swaps. The particular issues were: implementation timeline (VM "big bang"), margin requirement between affiliates, international harmonization (substituted compliance regime) and treatment of collateral (segregation and rehypothecation limitations).
V. Capital & Margin

CFTC Staff
John Lawton, Carlene Kim, Paul Schlichting, Francis Kuo, Stephen Kane, David Aron, Rafael Martinez
Kyle Brandon (SIFMA)

Anthony Cicia (Morgan Stanley)

Colin Lloyd (Cleary Gottlieb Steen & Hamilton LLP)

Michael Huber (Goldman Sachs)

Greg Todd (Bank of America)

Margaret Gage (Credit Suisse)

Bradley Edgell (SIFMA)
Securities Industry and Financial Markets Association (SIFMA)