Suite 222, Level 2
480 Collins Street
Melbourne VIC 3004
10 Minutes with John Messent CFTP
JOHN MESSENT CFTP
Australian Gas Networks
I have been in my current role for 18 months and have previously worked with a number of organisations, including Ernst & Young, ANZ and Peoples’ Choice Credit Union. Whilst my core background has been through treasury and finance related functions, I have also had responsibility for credit risk, business risk and operational delivery teams. I have also spent a number of years as a Director of a NFP disability services provider which I found very rewarding.
Outside of work you will find me enjoying time with my family – we have 2 wonderful teenage girls who are growing up fast! I enjoy cooking, tennis and British comedy. I am also fortunate to own my late Grandfather’s 1955 Jaguar that has huge sentimental value for me and was our wedding car – I take it out as often as possible for a run or in historic car events.
Discussion Paper CPS226 “Margining and risk mitigation for non-centrally cleared derivatives”
What are the facts?
APRA recently released regulation Discussion Paper CPS226 “Margining and risk mitigation for non-centrally cleared derivatives”.
- The regulations require margin to be posted/collected from counterparties in the form of variation margin (current exposures), and initial margin (potential future exposure) associated with the portfolio of non-centrally cleared derivatives (NCCD’s).
- The regulations primarily apply to Financial Institutions and Systematically important non-financial institutions where it is believed that OTC derivatives trading is taking place other than for hedging purposes, and therefore more open to risk.