Oil price shock triggers big margin calls
Banks and exchanges worked through weekend in anticipation of oil collapse
Clearing houses and banks spent the weekend preparing for an oil price collapse – and the margin calls that would come with it – after talks between Russia and Saudi Arabia broke down on Friday, March 6.
When trading opened on March 9, oil prices plummeted almost 30%, sparking fresh falls in global stock markets and US Treasury yields – a combination of moves that resulted in large demands for
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