Options expiry triggered $135m liquidity shortfall at NSCC

The CCP collected supplemental liquidity deposits six times during the first quarter

The National Securities Clearing Corporation (NSCC) reported one instance in the first quarter of the year where its payment obligation in a worst-case hypothetical loss exceeded its qualifying liquid resources (QLRs).

This is the sixth time the central counterparty (CCP) reported a similar instance over the span of 12 months, having been caught short once in Q1 of last year, and twice in the second and third quarter, respectively.

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On January 4, the CCP incurred a liquidity

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