The FCA has updated its webpage on EMIR indicating its support for the European Supervisory Authorities’ (ESAs) 24 November 2017 statement on the variation margin requirements for physically settled FX forwards. The FCA will not require firms whose physically settled FX forwards are likely to be outside the scope of the amended requirements to continue putting processes in place to exchange variation margin.

Visit the FCA’s EMIR webpage » 

Read the ESAs’ statement »