Morgan Stanley FCM gains ground in Q2

Morgan Stanley grew the amount of margin required for US swaps clearing customers by $699 million, or 4.3%, over the second quarter – the most of the top five futures commission merchants (FCMs), regulatory data shows. 

Of the other top five FCMs, Citigroup increased its required margin by $266 million, or 1.1%; Credit Suisse by $373 million, or 3.8%; JP Morgan by $52 million, or 0.4% and Wells Fargo by $199 million, or 2.9%.

Citigroup remains by far the largest FCM, with a 27% share of total