Begin measuring your AANA in advance of the observation period.
Track your AANA calculation and warning thresholds over time, to plan ahead and manage when your firm may move in or out of scope.
Use optimization techniques to reduce AANA and potentially reduce of the cost of UMR.
The Uncleared Margin Rules (UMR) Phase 5 and Phase 6 commencement dates have been delayed by one year, and this also means the Aggregate Average Notional Amount (AANA) observation periods are moved back to March, April and May 2021 for Phase 5 and March, April and May 2022 for Phase 6. This delay is an opportunity for firms to review their AANA and determine if they have the opportunity to adjust their trading exposure to reduce AANA and push back their regulatory compliance dates.
Download our latest guide, as we showcase how your firm can turn the UMR delay into an opportunity with AANA Monitoring and Optimization Strategies in 2021. Our guide includes:
- Overview and background on UMR
- Back to basics on AANA, including jurisdictional differences such as calculation period and product scope
- Strategies on how Phase 5 firms can take steps to move themselves into Phase 6, allowing more time to be fully prepared
- Guidance for Phase 6 firms who can review and modify trading behavior, reducing or possibly eliminating the cost of UMR