OCC default fund plans expose rift between clearers
Retail brokers – but not Robinhood – oppose new allocation of default fund contributions amid options surge
Clearing firms are haggling over how to split the bill for the massive growth in options trading.
Required contributions to the Options Clearing Corporation’s default fund, which acts as a backstop against catastrophic losses, have climbed to $23.7 billion from $14 billion at the start of 2023.
Clearing banks complain they are carrying the load for retail brokers, whose increased options volumes
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