Goldman’s swaps clearing unit boosts client margin by $1.2bn

The top eight FCMs accounted for 95.8% of total client required margin, down 96.4% YoY

Required client margin held by Goldman Sachs’ swaps clearing unit jumped up by $1.2 billion (11%) in the first quarter of the year – the biggest increase of the 16 reporting futures commission merchants (FCMs).

Data from the Commodity Futures Trading Commission (CFTC) shows the US bank held $12.4 billion of required margin from clients to cover their swap trades, the highest level on record. 

Barclays posted the second-largest quarterly increase, with required margin up $770 million (8%) to

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