Client margin up 4% at Barclays’ swaps clearing unit

US unit of UK bank became sixth FCM by share in October

Barclays overtook Wells Fargo to become the sixth largest futures commission merchant (FCM) by required client margin for swaps in October.

Data from the Commodity Futures Trading Commission (CFTC) shows the US unit of the UK bank held $13.4 billion of required segregated customer funds to cover their cleared swaps – up 4% month on month. A year earlier, client margin stood at $12.1 billion.

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Over the same period, required margin at Wells Fargo dropped almost 2% to $13.3 billion

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