Counterparty risk at the Fixed Income Clearing Corporation’s government securities division (FICC GSD) has become more diffuse since end-2016.

The percentage of total open positions held by the ten largest clearing members dropped to 37% on average at end-June from 44% eighteen months prior. These big dealers’ share of total posted initial margin slumped in concert, to 43% from 52%, in the same period.

#### Investing

###### BlackRock to grant funds the power to slow global warming

Aladdin system holding trillions of dollars to show whether funds are burning the Earth or saving it