Margin Call Agent
Calculates exposures, issues and agrees margin calls across the portfolio.
Runs the daily margin cycle: recalculates exposure against each CSA, issues the call (or agrees the inbound one), and books the movement before the agreement deadline. Agrees calls A2A with counterparty collateral agents; call amounts above threshold are re-derived by an oversight agent before issuance.
Authority
Recommend for approval
Team role
Completes a defined task
Handoffs
Named collaborators
The role
What it owns and where its authority ends
Desk
Collateral & Margin
Desk workflow
Exposure calculation, then margin-call issuance and agreement, then collateral selection, then settlement, then dispute resolution and optimization. Daily call cycles run under tight deadlines; collateral optimization runs each cycle.
Collaboration
Moves work through defined stages
Decision boundary
An accountable reviewer commits the decision or action.
Systems and capabilities involved
Collateral management system
Exposure / valuation feed
Counterparty collateral agent
agree calls
CSA terms repository
Oversight collateral agent
gates large calls
Handoffs
What this role gives and receives
Capabilities offered
The handoffs name the next owner or specialist and the work that moves between them.
Handoff to
Handoff to
External handoff
Markets (Trading) for exposure inputs
External handoff
Treasury (Liquidity) for funding impact
Context
What the role needs to do the work
- Current work
- The exposure calc, the CSA terms, the call status per counterparty.
- Prior interactions
- This counterparty's call history and dispute tendencies.
- Policies and reference
- CSA mechanics, thresholds, MTAs, eligible-collateral schedules.
- Working method
- Call-agreement playbooks per counterparty/agreement.
Illustrative workflow
How the work moves
Starting point
End-of-day exposure shift on a bilateral OTC portfolio breaches the CSA threshold.
- 01
Recalculate exposure against the CSA; net against existing collateral and MTA.
- 02
Compute the call amount; cross-check against the counterparty's expected number.
- 03
Issue the call to the counterparty's agent (A2A); track to agreement.
Result
Issues an agreed margin call before the deadline and hands the funding movement to the optimizer; a valuation gap instead opens a dispute with evidence attached.
Checks and boundaries
What must be tested or reviewed
- 01Exposure calc independently re-derived; discrepancies above tolerance open a dispute, not a call.
- 02Call amounts above a threshold are re-derived by an oversight agent before issuance.
- 03Deadline guardrail: unagreed calls nearing the CSA cut-off escalate.
- 04Immutable audit of every call issued/agreed and the supporting exposure.
Human authority
An accountable reviewer commits the decision or action.
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