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CME had top margin breach of $138 million in 2018

Margin shortfall triggered by "extreme volatility" in natural gas markets

CME Clearing reported a peak margin breach of $138 million in the fourth quarter of 2018 – the largest since public disclosures began in 2015.

Prior to this, the central counterparty's largest margin breach was $47 million in size, incurred in the first quarter of last year.

The clearing house posted a total of seven initial margin breaches in the fourth quarter, with an average size of $53

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