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variation margins value is actually it reflects the the price of the market so you can put you cannot heart credit using your models enjoy whatamp;#39;s are the biggest challenges your customers face so as all of the financial industry the biggest challenge is maybe to but due to the fact that the applications will start in 2018 our customers now are more worried with the upcoming and the existing clearing and marching requirements and theyamp;#39;re amazed so what is clearing and who does it apply to so in practice clearing is a process where a central counterparty acts as an intermediary between a bilateral agreement and it includes all the credit risk and it applies to financial counterparties non-financial counterparties that exists there clearing threshold and third countries entities that are subject to certain conditions like for example if their transactions have direct and substantial and foreseeable effect in the European market of course there are some exceptions as well l