Credit Suisse’s US clearing unit cuts client margin by over 40%

Required segregated customer funds for swaps, futures and options down sharply since Archegos default

Required client margin held by Credit Suisse’s US clearing businesses dropped by more than 40% since the Archegos debacle in March 2021, as clients took their trades elsewhere.

Data from the Commodity Futures Trading Commission (CFTC) for futures commission merchants (FCMs) shows the US unit of the Swiss bank held $7.04 billion of required segregated customer funds to cover their cleared swaps at end-November, down 46% since March.

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