This Report was approved and its public release authorized by the Technical Committee of IOSCO during its March 7, 1996 meeting.
| Purpose of Document | 1 |
| I. Introduction | 1 |
| II. Establishing Margin Requirements | 1 |
| III. Risks Addressed by Margin | 2 |
| IV. Specific Provisions Regarding Margin | 2 |
| A. Setting Margin Levels | 2 |
| B. Calculation | 3 |
| C. Collection and Monitoring | 3 |
| D. Default | 4 |
| V. Extraordinary Conditions | 4 |
| Vl. Cross-Margining | 4 |
|
| Appendix 1: Summary of Marging Survey Responses | 6 |
| Appendix 2: Chart of Members' Responses | 14 |
