LCH margin changes to ease funding stresses, say FCMs
Clearers welcome the move to free up excess cash margin and remedy ‘double-dipping’ complaints
Dealers have welcomed a significant change to SwapClear’s margin policy that will see the central counterparty (CCP) allow futures commission merchants to use excess cash collateral they hold to meet variation margin calls, in a bid to alleviate the kind of intraday funding stresses members say they were exposed to in the wake of the UK’s Brexit vote in 2016.
The changes, which were implemented
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