One FICC member paid record $102bn to cover dues in Q4

One clearing member of the Fixed Income Clearing Corporation (FICC) had to pay $102.2 billion to the central counterparty’s government securities division (GSD) in Q4, topping the previous peak payment obligation by more than 33%.

The payment obligation includes margin, settlement obligations and all other dues to cover membership responsibilities. The peak payment due from a single member at FICC’s mortgage-backed securities division (MBSD) was $39.1 billion in Q4 2020, compared with $33.4

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