Liquidity risk hits multi-year highs at both CME divisions

Changes to clearing member exposures and portfolio composition drive increases

Both of CME Clearing’s clearing units experienced double-digit growth in their estimated largest payment obligations in the event of the default of a clearing member and its affiliates in the second quarter, reaching highs not seen in years.

The interest rate swaps division saw its theoretical payment obligation rise 31.5% from $3.28 billion at end-March to $4.32 billion at end-June, the highest since Q1 2020.

At the futures and options division, liquidity risk climbed 13.4% from $21.8

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