Under the influence of Corona 19, the introduction of an open margin exchange system for trading non- liquidated over-the-counter derivatives has been postponed for one year.

The Financial Services Commission and the Financial Supervisory Service said, “Considering the burden of financial companies under Corona 19, we will postpone the implementation of the exchange system for non- liquidated OTC derivatives margin for one year from the scheduled date.”

Next, as a result of checking the industry's preparedness and collecting opinions on the need to postpone the implementation time, domestic financial companies also had difficulties such as lack of preparation manpower and difficulty in overseas collaboration due to the effect of Corona 19. ” I explained.

Financial companies with non- liquidated over-the-counter derivatives with a transaction balance of more than 70 trillion won have an obligation to exchange the starting margin from September next year, and financial companies with more than 10 trillion won to less than 70 trillion won will take effect from September 2022.

As of last year, 39 financial companies, including 23 banks, have financial transactions with a balance of more than 70 trillion won, and 19 banks with 5 banks and 7 securities companies with more than 10 trillion won to less than 70 trillion won.

The margin exchange system is a G20 meeting agreement since the global financial crisis, in which financial companies exchange margins with collateral in case of losses when trading over-the-counter derivatives that are not liquidated through the central office.