CME member contributions up 11%

Default fund for F&O clearing unit hits record size driving CCP’s skin-in-the game share to all-time low

Members’ contributions to CME Clearing’s default fund for futures and options (F&Os) hit an all-time high of $6.3 billion at end-September.

Post-haircut contributions rose 10.6% compared to three months prior, while the central counterparty (CCP)’s own input, known as skin in the game (SITG), remained flat at $100 million. SITG thus accounted for 1.6% of member contributions, down from 1.8% and the lowest in at least eight years. The total default fund was up 10.4% quarter on quarter.


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