This week's Quick Takes has Amir discussing "ISDA SIMM – What changes in v2.6?"

• ISDA SIMM v2.6 is effective December 2, 2023;
• Updated with a full re-calibration and industry backtesting;
• Meaning Initial Margin will change for most portfolios;
• In particular, material increases for Commodity and Equity risk;
• To quantify the actual impact of SIMM v2.6;
• Clarus CHARM can run both SIMM v2.6 and v2.5a on your portfolios;

ION #IONMarkets #ClarusFT #ISDA SIMMv2.6 #ClarusCHARM

Amir Khwaja, CEO, Clarus Financial Technology

Amir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.

Chris Barnes, Senior Vice President, Clarus Financial Technology

Chris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.

Chris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.

• ISDA 2016: Implementing Margin Rules for Non-Cleared Swaps
• Margin Buffer, Event Risk and the US Election
• Charm