Volume pop leads to higher IM at Ice Clear Europe CDS

Heavy trading of credit derivatives in the third quarter saw initial margin pile up at Ice Clear Europe’s credit default swap (CDS) service to €7.3 billion ($8.1 billion) at end-September, 17% higher than at end-June and the largest amount on public record.

IM attributable to client accounts stood at €1.4 billion, 45% higher than at end-June. IM for house accounts was €5.8 billion, up 11%. 

Clearing volumes at the central counterparty (CCP) surged in the third quarter. The number of

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