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IHS Markit and BNP Paribas Securities Services Expand Collaboration for Uncleared Margin Rules

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BNP Paribas Securities Services, a global custodian offering a full end-to-end solution for Regulatory Initial Margin (IM) with IM Calculation, Exposure Management and IM Segregation in Triparty, has added IHS Markit as an initial margin calculation source to its existing service for clients that are in-scope for uncleared margin rules in derivatives markets.

The expanded collaboration complements the valuations services that IHS Markit has provided BNP Paribas Securities Services since 2012.

Leveraging advanced analytics, proprietary data and expert analysts, IHS Markit provides sensitivities fed into BNP Paribas Securities Services’ middle-office platform via a CRIF (Common Risk Interchange Format) file to perform initial margin calculations and reconciliation. As market participants prepare for the go-live of Phase 6 (September 2022) of the uncleared margin rules, this collaborative offering can further enable a smooth transition process for clients of BNP Paribas Securities Services.

The calculation service from IHS Markit is available as part of an end-to-end initial margin ecosystem, which is powered by more than 200 global analysts, 15 years of recognized expertise in OTC derivatives valuations and 11 million independent valuations per month. Calculations are based on the industry’s richest and most diverse OTC derivatives data sources and are SSAE18 certified.

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