At ISDA's Annual General Meeting in Singapore, derivatives professionals continued to oppose proposed margin requirements for uncleared over-the-counter derivatives. "Charging initial margin on a bilateral basis is overkill," said Guillaume Amblard of BNP Paribas. "It creates a disincentive to market make. A market maker with a diversified portfolio is doing his job and creating liquidity. You don't want to create a disincentive for people to market make and to help in the process of transferring risk from one client to the other."

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