The Dodd-Frank Act in the US and the EMIR Directive in Europe have mandated the requirement for Interest Rate Swaps to be cleared at Clearing Houses. One of the most significant differences in market practices from this change is the requirement to post collateral to meet the Initial Margin requirement. At the recent 13th Annual Collateral Management Conference in London, 2012, Amir Khwaja shared some insights on the topic.
