NFA Urges Swap Dealers to Complete Margin Questionnaire

The National Futures Association ("NFA") reminded swap dealers ("SDs") that they must complete and submit responses to "a very brief" questionnaire relating to their margin requirements for uncleared swaps. The questionnaire is intended to identify SDs that must submit policies and procedures (i) for initial and variation margin requirements by September 1, 2016, and (ii) for variation margin requirements by March 1, 2017, pursuant to CEA Section 4s(e).

The NFA explained that it will use the responses to the "Margin Questionnaire" to generate calls that may be used by SDs to submit policies and procedures by the applicable due date. SDs must submit their responses to the questionnaire by June 15, 2016.