CCPs incur fewer margin breaches in 2017

Margin breaches at central counterparties (CCPs) declined in frequency and severity in 2017 compared with 2016, Risk Quantum analysis shows.

CCPs disclose the number of times that margin coverage held against any clearing member’s account falls below that account’s actual mark-to-market exposure. End-2017 disclosures show a drop-off in such incidents compared with 2016 at all but one of 10 CCPs surveyed. 

Among the most improved, LCH Ltd recorded 174 margin breaches in 2017, down from 573 in

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