Zenith

Cross-Asset Front-to-Back

Agent StatusAll Active

Global Markets Ops

Front-to-Back Desk

Collateral & Margin Management

ISDA CSA lifecycle, SIMM initial margin, variation margin calls and dispute resolution

Total IM Required

$44.7M

Margin Shortfall

$4.5M

Open Calls

1

Disputes

1

About This Agent

Data on this page

ISDA CSA agreements per counterparty — agreement type (SIMM or variation-margin-only), initial margin required vs initial margin posted, and margin status (margin call, dispute, or covered) — alongside stat cards for total IM required, margin shortfall, open calls and disputes.

What this agent does

Runs ISDA SIMM initial margin calculations under each CSA, compares required vs posted collateral per counterparty, and automatically issues margin calls where a shortfall exists. Disputed calls are flagged and routed to collateral ops for reconciliation rather than auto-called.

Worked examples

  • Goldman Sachs (ISDA CSA — SIMM): $18,200,000 required vs $14,000,000 posted, a $4.2M shortfall — agent flags a Margin Call and offers "Issue Call".
  • HSBC (ISDA CSA — SIMM): $6,100,000 required vs $5,850,000 posted — flagged as Dispute and routed to collateral ops rather than auto-called.
  • BNP Paribas (ISDA CSA — VM only): $0 required and $0 posted — agent confirms Covered with no action needed.

CSA Agreements

CounterpartyAgreement TypeIM RequiredIM PostedStatusAction
Goldman SachsISDA CSA — SIMM$18,200,000$14,000,000 Margin Call
Deutsche BankISDA CSA — SIMM$9,400,000$9,400,000 Covered
BNP ParibasISDA CSA — VM only$0$0 Covered
HSBCISDA CSA — SIMM$6,100,000$5,850,000Dispute
BarclaysISDA CSA — SIMM$11,000,000$11,000,000 Covered