OCC default fund shrinks $3 billion
Clearing members of the Options Clearing Corporation (OCC) saw their required contributions to the central counterparty’s default fund shrink in the three months to end-June, for the first time since 2016.
Total participant contributions to the fund fell to $15 billion, from $18 billion, over the second quarter. Contributions had increased each quarter from December 2016 and peaked at $18 billion at end-March.
Prior to September 4, the OCC used an internal model methodology that sized the
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