IM at LCH Ltd fell to post-Covid low in Q4
Aggregate initial margin (IM) held across LCH’s London-based central counterparty (CCP) came to €217.5 billion ($258.2 billion) at end-2020, down 10% on its Q1 peak and 2% on its Q3 level.
The amount of required IM – the aggregate minimum demanded of clients – dropped quarter on quarter at three of its four clearing funds.
Required IM for interest rate swaps (IRS) contracts cleared via SwapClear came to £149.5 billion as of December 31, down 3% on end-September. However, this level was over 15
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