GNCC Capital Inc (GNCP)

[moe_the_gyp01]

Ah yes...Phase six of the uncleared margin rules. or the (UMR) is a regulatory requirement established by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) that affects the exchange of initial and variation margin for non-centrally cleared derivatives. It has less than nothing to do with an Expert Market turd that couldn't keep a set of books to account for its complete lack of anything even remotely resembling an entity engaged in the pursuit of a trade or business. Phase 6 has pretty much been completed which applies to all non-centrally cleared derivatives, including interest rate swaps, credit default swaps, foreign exchange forwards, and options, among others. The requirements apply to all counterparties, including banks, asset managers, hedge funds, and insurance companies, not the inactive turd that is stinking up the performance of many a hopeful dreamers' portfolio.
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