Alex Knight, Head of Global Sales and EMEA at Baton Systems, discusses recent developments in margin and the importance of optimizing the collateral management process. He highlights that volatility has caused dramatic moves in both initial and variation margin, resulting in large excess or deficit for clients of clearing members. It is beneficial for clearing members to offer non-cash assets as collateral to Central Counterparties (CCPs) wherever possible, as cash is more productive when used for other purposes. Real-time information is essential in the collateral management process, as it allows clearing members to execute the automatic delivery or recall of assets and ensure a beneficial collateral composition. Visibility, connectivity, and flexibility should be top priorities in optimizing the collateral management process for clearing members and their clients.