Banks call for delay to derivatives margin rule during virus outbreak

LONDON (Reuters) - Banking and markets trade bodies have asked regulators to postpone a rule requiring them to post extra cash against their uncleared derivatives transactions as the coronavirus disrupts the industry.The requirement for an initial margin at the outset of derivatives trades is being phased in over several years with the final two milestones due in September and a year later."These efforts are being severely impacted by the global COVID-19 pandemic," the industry bodies said in a..