Compliance Made Easy:

How to Navigate Through the Non-Cleared Margin Rules

Compliance with the margin requirements is a journey. We’ve helped hundreds of clients meet their compliance requirements. See below to learn how we can help guide you through these regulations.

Am I Captured?

Determining whether you are captured under the rules is based on whether your average aggregated national amount (AANA) of non-cleared OTC derivatives exceeds a certain threshold over a certain period of time.

Take the test to find out how the Non-Cleared Margin Rules impact you.

The Journey

If you are captured, the rules will impact the entire lifecycle of your trade from inception through to post trade settlement. Here, you can learn about the individual steps toward compliance, explained simply across Pre-Trade, Exchange, and Settlement.

Pre-trade Ready to Exchange Settlement

Your Segregation Options

Meeting the Non-Cleared Margin Rules need not be complicated. Here, you can learn about the different options BNY Mellon offers to help guide you through this journey.



Triparty is a low-touch option. It maximizes the efficiency and flexibility for collateral pledgors by outsourcing many of your day-to-day margin segregation responsibilities. This makes the account structure particularly suitable for portfolio managers running multiple funds with complex allocation requirements.

Triparty Resources

MarginDirect Set-Up Guide

Review the key steps that Collateral Receivers/Providers or collateral administration agents, will need to complete to onboard with our MarginDirect service.

Download the guide (PDF 9.9 MB)

Triparty Collateral Provider Set-Up Guide

Review the key steps that Clients will have to complete to onboard as a Collateral Provider in our Segregated IM Triparty Service.

Download the guide (PDF 6.7 MB)

Triparty Collateral Receivers

Triparty Collateral Receivers

An integral part of the overall implementation process for Collateral Providers on Triparty is setting up your Collateral Receiver. Your receivers will need to be set-up on platforms that the Collateral Provider counterparties ar pledging through i.e., where their accounts are held. Our Receiver Concierge Team can help.

Triparty Receiver Resources

Triparty Collateral Receiver Set-Up Guide

Review the key steps that Collateral Receivers, or Agents that Collateral Receivers have outsourced to, to onboard with our Segretated IM Triparty service.

Download the guide (PDF 7.9 MB)



Our Third-Party margin segregation model allows you to take a more direct role in the management of your collateral and has traditionally proved a more popular choice for institutions that have fewer securities and trading relationships. The construct fully supports the segregation (pledge) of your collateral when you are posting in favor of your counterparty.

Collateral Administration

Collateral Administration

In Collateral Administration accounts where IM is essentially a reserve for potential future exposure (PFE) during a margin period of risk (MPR), capturing funding costs, we offer Standard Initial Margin Model (SIMM).

The Finest Resources, Revealed

Additional webinars and readings related to the Non-Cleared Margin Rules.


Webinar: Operation Readiness

Discussion on the challenges of the next phase.

View the webinar

Webinar: Tri-Party Vs. Third Party

Discover if Tri-Party or Third Party segregation is right for your business.

View the webinar

Webinar: Impact For Asset Owners

Learn more about the responsibilities of asset owners in complying with the rules.

View the webinar


ISDA: Ready for IM Regulatory Requirements

This online tool provides buy-side firms with legal review on the enforceability of netting and collateral arrangements in key jurisdictions across the globe.

Download document (PDF 151 KB)


Looking for information about the Standardized IM Methodology? Find it here.

Read more about ISDA SIMM

EU Regulation on Non-cleared Derivatives

Read the EU regulation that brought the Non-Cleared Margin Rules into force in Europe.

Read the EU regulation

CFTC Final Rules on Margin Requirements for Uncleared Swaps

You can find the CFTC rule enforcing the margin requirements in the US here.

Download document (PDF 745 KB)