CCPs
CCPs build their liquidity buffers
$26 billion increase in deposits entrusted to commercial banks
Ice single-name clearing surge defies market trend
Ice Clear Credit open interest grows 31%
Ice Clear Europe had a top margin breach of $91 million in Q1
A total nine breaches are reported, averaging $14 million
OCC margin breaches spike in Q1
Peak exposure of $363 million in three months to March 31
CME reports two margin breaches in Q1
Shortfalls totalling $79 million were by far the largest for the CCP since public reporting started in 2015
Eurex rejigs liquidity portfolio
Half a billion euros placed with commercial banks at end-March
JSCC reinforces default funds
Member firm contributions swell ¥135.5 billion across derivatives clearing services
FICC liquidity facility swells to $36 billion
Capped contingent liquidity facility adjusts in response to heightened liquidity risk
CCPs incur fewer margin breaches in 2017
LCH Ltd reports 399 fewer breaches than in 2016; DTCC 156
Liquidity resources vary across CCPs
Eurex, Ice Clear Credit, LCH SA most dependent on cash deposited at central banks
Concentration of client positions rises at LCH
Over 75% of client positions handled by five largest clearing members at LCH Ltd
Over half of CDS contracts cleared – BIS
Non-cleared trades continue downward slide