ABN winds down Ronin books after Vix losses
A $200m loss suffered by the bank’s clearing business is thought to be a mystery second default
ABN Amro, which announced a $200 million loss in its clearing business earlier today (March 26), is closing out a separate portfolio of trades it cleared for Ronin Capital, the Chicago-based proprietary trading firm that collapsed last week after failing to meet margin calls at CME.
Two sources close to the matter tell Risk.net that ABN Amro cleared Ronin’s trades at the Options Clearing Corporation (OCC). One source told Risk.net earlier this week that those trades were now in “controlled wind
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