Client collateral held by Goldman Sachs leaped by almost $4.5 billion last October, figures from the Commodity Futures Trading Commission (CFTC) reveal – by far the largest one-month change seen by any futures commission merchant (FCM) last year. The move highlights how volatile margin numbers can be and has prompted speculation at rival FCMs as to the cause.
"I don't know what happened," says a clearing head at a rival bank. "No one else has really moved that much. The graph is nearly flat for