FCM target residual interest shrinks as customer funds surge
Nine firms hit all-time lows in February across multiple asset classes
Target residual interest (TRI) as a share of customer funds fell to record lows at nine major US futures commission merchants (FCMs) in February, more than a third of the 24 firms reporting the metrics, even as overall TRI levels rose at several firms.
For futures and options (F&O), six FCMs set all-time low TRI shares, ranging from 0.6% at Morgan Stanley to 2.2% at Deutsche Bank Securities
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