Iran war drives record CCP margin calls
NSCC, CCIL and CME among clearing houses reporting peak VM and IM calls in Q1
Several central counterparties (CCPs) saw variation and initial margin calls surge in the first quarter, as the Iran war roiled markets in March.
The National Securities Clearing Corporation (NSCC) reported a maximum total variation margin call – the highest amount of variation margin paid to it on a single day during the quarter – of $11.8 billion, more than double the $5.1 billion reported in
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