Goldman, JPM gain ground in FCM race for swaps
Duo boosted share of required customer funds at the expense of Citi and Morgan Stanley in 2023
Goldman Sachs and JP Morgan captured a higher proportion of required client margin for swap trades in 2023, data from the Commodity Futures Exchange Commission shows, narrowing the gap to top-ranked Citi and Morgan Stanley.
Goldman seized an average of 12.7% of all required customer funds for cleared swaps reported by the 13 US futures commission merchants (FCMs) to the CFTC during the year, up
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