Ice Clear Europe hit by $1.03bn margin breach

The CCP’s futures and options division reported its second largest IM breach ever in Q4, as energy prices skyrocketed

Ice Clear Europe incurred a $1.03 billion initial margin (IM) breach in the last quarter of 2021, the second highest on record for the central counterparty (CCP).

The peak IM breach was disclosed by the CCP’s futures and options (F&O) unit, and it is understood to be linked primarily to the rise in the price of natural gas and crude oil.

  !function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process()

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here