NSCC had top margin breach of $1.2bn in Q3

- By Joshua Walker
- 12 Dec 2023

The National Securities Clearing Corporation (NSCC) suffered its biggest initial margin (IM) breach in at least eight years in the third quarter, reporting a shortfall of $1.16 billion.

The central counterparty attributed the peak backtesting exception to an unspecified “off-the-market correspondent clearing trade between two affiliates”, but declined to comment further. The breach occurred on

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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@risk.net