欧盟将对股票期权给予最后一刻的保证金缓期
欧盟委员会(European Commission)将在数日内公布对Emir技术标准的修改。预计将公布RTS草案,将股权期权的保证金减免延长至2021年。据三家银行消息人士和一名律师透露,欧盟委员会很快将公布最新消息,将股票期权的未清算保证金申请推迟至少一年。全球衍生品保证金规则要求交易对手对非清算交易公布初始保证金和变动保证金。《欧洲市场基础设施监管条例》(将未清算保证金规则转换为欧盟法律)授予受保证金要求约束的公司三年期限,在此期间,他们不必针对单一股票期权和指数期权提供抵押品,因为相同的合同不受美国版规则的约束。
EU to grant last-minute margin reprieve for equity options
European Commission to publish changes to Emir technical standards within days.Update imminent: publication of a draft RTS to extend margin relief for equity options until 2021 is expected.The European Commission will soon publish an update postponing the application of non-cleared margin on equity options by at least another year, according to three bank sources and a lawyer.Global derivatives margin rules require counterparties to post initial and variation margin against non-cleared trades. The European Market Infrastructure Regulation – transposing the non-cleared margin rules into EU law – granted firms subject to margin requirements a three-year period during which they would not have to post collateral against single-stock options and index options, as the same contracts are not subject to the US version of the rules.
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