The meltdown at Archegos Capital that triggered big losses at several banks highlighted the need to review rules on posting margin or cash against derivatives transactions, the head of a global markets regulator said on Monday.
FILE PHOTO: 888 7th Ave, a building that reportedly houses Archegos Capital is pictured amid the coronavirus disease pandemic in the Manhattan borough of New York City, New York, U.S., March 29, 2021. REUTERS/Carlo AllegriLONDON: The meltdown at Archegos Capital that triggered big losses at several banks highlighted the need to review rules on posting margin or cash against derivatives transactions, the head of a global markets regulator said on Monday.
Ashley Alder, chairman of IOSCO, which groups regulators from the world's main financial markets, said the Archegos"saga" also showed that trade repositories, which record derivatives transactions, must be faster at pointing to"red flags" in markets.
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