JP exec calls for derivatives margin changes

Nick Rustad: “We haven’t seen all these asset classes be volatile at the same time”

Photo: JP Morgan

Robert Mackenzie Smith
10 Sep 2018

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JP Morgan’s head of clearing, Nick Rustad, is calling for changes to clearing house margin practices, to take into account developments in market structure. New data shows there have been 13 significant initial margin breaches in listed derivatives markets so far this year.

According to the data, compiled by JP Morgan, the magnitude of the breaches – which occur when a price change exceeds the margin held from one mark-to-market period to the next – ranged from 26% in crude oil futures at the

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