Morgan Stanley’s swaps clearing unit boosts client margin by $4.8bn
In total, FCMs see required client margin increase 18% quarter on quarter
Required client margin held by Morgan Stanley’s swaps clearing unit jumped up by $4.8 billion (28%) in the third quarter – the most of the 17 reporting US futures commission merchants (FCMs).
Data from the Commodity Futures Trading Commission (CFTC) shows Morgan Stanley held $21.9 billion from clients to cover their swap trades, the highest level since Q2 2018.
Citi posted the second-largest
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