CFTC counsel warns of threat to clearing portability

Leverage ratio seen as biggest impediment to porting client positions

US regulators are concerned about the impact of the leverage ratio on client clearing

A senior staffer at the US Commodity Futures Trading Commission (CFTC) has raised concerns about the portability of client positions held at a central counterparty (CCP) in the event of a clearing member default.

“I am personally quite concerned that during crisis times, during a time of market stress, the ability to find homes for these customers, to find firms that are willing and able to take customer positions on, is much less likely than I would like and it concerns me a great deal,” said

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