

Entering 2020, most CCPs had bigger default funds than a year ago
Major central counterparties (CCPs) largely increased the size of their default funds over the year to end-2019.
Of the 22 default funds belonging to the ten large CCPs tracked by Risk Quantum, eight posted lower pre-funded amounts in their default funds year-on-year, while 14 reported larger amounts.
The default fund covering Paris-based LCH SA’s €GCPlus tri-party repo service increased the most over 2019, by 57% to €225 million ($243 million). It is understood the service saw higher volumes
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