Initial margin

also known, to ISDAphiles, as Independent Amount, this is the amount of collateral or margin a counterparty requres up front, notwithstanding any change in the mark-to-market value of the transaction.

Compare, by way of contrast, variation margin.

See also

• Independent Amount, the 1995 CSA and the CSA Anatomy generally
• EMIR, and in particular uncleared derivatives margin

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