SwapClear incurred a $558m margin breach in Q1

- Louie Woodall
- 01 Jul 2020

Turbulent markets caused one client at LCH’s SwapClear to rack up an uncovered exposure of $558 million in the first quarter. The clearing house said that some of the shortfall would have been covered by margin add-ons for concentration and liquidity risk – but around $329 million of exposure had to be offset through additional margin top-ups.

SwapClear disclosed 1,769 initial margin breaches

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