FCM client margin for swaps hit record high in June
JP Morgan, Barclays drive required funds increase, with UBS doubling prior-year figure
US futures commission merchants (FCMs) held $162 billion in required client margin for swaps trades at end-June, the highest level on record.
Data from the Commodity Futures Trading Commission (CFTC) shows a $2.4 billion, or 1.5%, increase on May’s figure, and a $1.8 billion jump on the previous all-time high, set in April.
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Four of the 13 reporting clearing brokers held required margin in record numbers for the month of June. UBS’s rose 19.2% to $2.2 billion, more than double the year
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