Initial margin and spread margin will be calculated using VaR for all settlement date wise net USD dollar positions and all settlement date positions will be considered as a single portfolio. International efforts are also afoot to mandate reporting of OTC trades to a trade repository where ever CCP arrangements are not found feasible.
TRs are Financial Market Infrastructures that maintain a centralised database of OTC derivatives transaction data. TRs therefore are in a position to provide information – both to the regulators as well as to the market. By doing so TRs enhance the transparency in OTC markets and promote financial stability.