Funds have raised concerns that SFTR requirements on collateral re-use will provide full view of trading book.
Banks may be forced to cancel trades with clients executed after 1 March if their collateral agreements had not been re-negotiated.
The new account structure will allow buy-side clients to post collateral directly with the clearing house.
Derivatives trading bodies are pushing for US agencies to ease rules on how client cash margin held by banks is calculated as part of their capital exposures.
The French bank will use the platform for its collateral management operations across the prime services and securities services businesses globally.
The two companies will allow traders to rewrite their OTC derivatives agreements and pass on the operational workflow.
The delay will help ease fears among buy-side firms, many which were reportedly nowhere near ready to comply with the 1 March go-live.
Several industry associations have called for a ‘transitional period’ to ensure compliance with the incoming variation margin rules.
The FSB has stressed potential issues of access and leverage which may occur through re-hypothecation of assets and collateral reuse.
Asset managers have barely completed the re-write of collateral exchange agreements for the incoming variation margin rules.