Archegos prompts review of derivatives rules, says global regulator

© Reuters/CARLO ALLEGRI888 7th Ave, a building that reportedly houses Archegos Capital is pictured in New York City

LONDON (Reuters) - The meltdown at Archegos Capital that triggered big losses at several banks highlighted the need to review rules on posting margin or cash against derivatives transactions, the head of a global markets regulator said on Monday.

Ashley Alder, chairman of IOSCO, which groups regulators from the world's main financial markets, said the Archegos "saga" also showed that trade repositories, which record derivatives transactions, must be faster at pointing to "red flags" in markets.

(Reporting by Huw Jones; Editing by Susan Fenton)