OCC default fund drops $5bn under new approach
The Options Clearing Corporation (OCC) lopped 36% off its clearing fund requirement in the third quarter, following the introduction of a new methodology for sizing its default resources.
Clearing members’ mandatory contributions to the default fund stood at $9.5 billion at end-September, down from $14.8 billion at end-June, and are now at their lowest level since the third quarter of 2017. It made for a second consecutive quarterly reduction in the amount of required contributions, which
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