On Sep. 1, 2024, SK FSS published the guidelines detailed above, whose application has been extended for a further year, from Sep. 1, 2024 until Aug. 31, 2025.
In Jul. 2025, SK FSS proposed extending guide on margin exchange, see #261363.
In Aug. 2025, SK FSS extended OTC derivatives margin guidelines, see #265812.
On Jun. 28, SK FSS proposed extending margin exchange guidelines.
SK FSS proposed to extend the validity of the Guidelines for margin exchange for non-clearing OTC derivatives transactions for another year, until Aug. 31, 2025.
Follows SK FSS Jul. 2023 proposed extending validity of guidelines, see #179112.
Extension
The administrative guidance is being implemented to require exchange of margin for OTC derivatives transactions that are not cleared by the central clearinghouse.
As the validity period of the administrative guidance expires on Aug. 31, 2024, it is proposed to extend it for an additional year from Sep. 1, 2024 until Aug. 31, 2025.
Consultation Period
Comments shall be submitted by Jul. 18, 2024.
Aug. 2024 Guidelines Extended
On Aug. 29, 2024, SK FSS extended the guidelines by 1 year starting Sep. 1, 2024.
The guidelines apply to financial companies whose average nominal balance of non-cleared OTC derivatives trading at the end of Mar., Apr., May is above the threshold.
For a financial company under a financial group, the combined nominal balance of all financial companies within the same group will be considered for application.
135 financial companies are subject to the initial margin exchange system for 1 year from Sep. 2024, 163 financial firms subject to the variable margin exchange system.
SK FSS will continuously monitor the status of OTC derivatives trading margin exchanges, support financial companies in implementing the margin exchange system.
Sep. 2024 Guidelines Published
On Sep. 1, 2024, SK FSS published the guidelines detailed above, whose application has been extended for a further year, from Sep. 1, 2024 until Aug. 31, 2025.
In Jul. 2025, SK FSS proposed extending guide on margin exchange, see #261363.
In Aug. 2025, SK FSS extended OTC derivatives margin guidelines, see #265812.
