Initial margin collected by phase one firms for their non-cleared derivatives totalled $173.2 billion, an increase of 10% compared to year-end 2018.
Market volatility sparked by the COVID-19 pandemic has resulted in a significant increase in prime brokers asking for more collateral from hedge funds.
JP Morgan has developed a DLT-based system to speed-up and automate post-trade margin payments.
Buy-side cleared inflation swaps volumes have rocketed since 1 September with dealers offering cheaper prices.
The NetOTC Bilateral platform was intended to go live this year to coincide with incoming margin requirements.
Banks will be able to offset margin calls for cleared interest rate swaps and listed futures.
O' Malia demands regulators to recognise ISDA's standardised model for calculating margin.
Introduction of new margin rules will be highly detrimental to the buy-side, according to an industry panel.