1. Fewer firms would be covered by margining and capital requirements, and fewer derivatives would be cleared by a central counterparty or traded on exchanges. 因为对利差和资本方面的要求,该提案所涉及的对象少了不少,而最终能够由中央结算对手清算或在交易所交易的金融衍生品则更少。
2. All "standardised" OTC derivatives would be cleared and traded on an exchange, and even large industrial firms would incur stricter margining and capital charges on their trades. 所有“标准化”的场外衍生品都将被清算,然后在交易所进行交易。而且那些大型工业企业在交易时,利差和资本支出都会受到更加严格的监管。
3. He rules out the Standard Portfolio Analysis of Risk (Span) margining tool developed by the CME in 1988 for clearing equity derivatives, which he believes is not robust enough for single-name trades. 他排除了“风险标准组合分析工具(Span)”这一由芝加哥商品交易所1988年为清算股权衍生品而开发的保证金工具,他认为该工具对于单名交易来说时不够的。