Business
Record plc comments on EMIR
Record plc comments on EMIR.
About this update from Record Plc
[{"type":"text","content":"\n \nRNS Number : 0856X Record PLC 21 November 2017 \n\nFOR IMMEDIATE RELEASE 21 November 2017\n \nRECORD PLC COMMENTS ON EMIR\n \nRecord plc (\"Record\"), the specialist currency manager, notes recently proposed amendments to the deliverable forward foreign exchange contract variation margin requirement under the European Market Infrastructure Regulation (\"EMIR\"). Record also notes media comments that these amendments may effectively be applied so as to forestall certain of its EU-based clients having to pay and receive daily variation margin from 3 January 2018, as had been expected.\n \nRecord is engaging with its affected clients and their counterparty banks, so as to ensure the best course of action allowing clients to meet their regulatory obligations whilst minimising disruption. Record will continue to monitor developments and does not expect the net revenue effect either from the introduction of mandatory variation margin, nor from any changes to its introduction, to be material.\n \nFor further information, please contact:\n \nRecord plc  ...