Margin
Year of the minnow: small FCMs grew rapidly in 2025
Coinbase, Hidden Road, GH Financials lead surge
UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
Barclays, JPM drive surge in FCM funds in 2025
Futures, options and swaps customer funds log biggest annual jump since 2020
Non-cleared derivatives margining jumps after framework rollout
Margin-to-notional ratio trails early regulatory estimates
SGX fortifies its defences to ward off tomorrow’s outages
Exchange operator fosters “breach mentality” to help prepare for business disruption, explains risk chief
Allocating financing costs: centralised vs decentralised treasury
Centralisation can boost efficiency when coupled with an effective pricing and attribution framework
EVE and NII dominate IRRBB limit-setting
ALM Benchmarking study finds majority of banks relying on hard risk limits, and a minority supplementing with early-warning indicators
BofA Securities defies year-end pullback with record F&O customer funds
December growth contrasts with broader FCM retrenchment from October peak
OCC’s initial margin spikes 27% in Q3
CCP hits new margin record for second consecutive quarter
LSEG streamlines post-trade efficiency across cleared and uncleared markets
LSEG’s Post Trade Solutions extends clearing-style efficiencies to bilateral markets, helping Apac clients navigate rising margin and risk management pressures
Lifetime achievement award: Dennis McLaughlin
Risk Awards 2026: When the stakes are systemic, ex-Princeton prof is never far away
China margin negotiations wait on new collateral document
With 2026 deadline looming, banks await key Nafmii document to begin contract negotiations
Volatile Q2 reshapes margin composition at top CCPs
JSCC introduces new cash collateral method, CME sees gold hit record high
DTCC’s plan to unlock billions in margin and capital savings
T+1 settlement has already cut margin; now firm is working on OCC tie-up, among 10 efficiency projects
Required IM at top CCPs climbs 11% to record high in Q2
Tariff shocks and trading shifts propel surge across the board
Tariff volatility triggers record margin calls at global CCPs
Aggregate average VM call in Q2 eclipsed pandemic highs
Global CCPs suffer record IM breaches in tariff-hit Q2
JSCC leads surge ahead of Eurex, CDCC, OCC and LCH
NSCC default fund surges to record $19.8bn in Q2
Q2 spike pushes resources past pandemic-era peak
Future proof: can FMX-LCH platform prevail?
A year into FMX Futures Exchange, Treasury futures volumes are low, and firms aren’t cross-margining
Marex customer funds steady despite short-seller claims
Marginal dip following Ningi report offset by rebound in following weeks
Industry doubts pausing the EU reg machine will offer relief
Market participants are sceptical that a proposal to halt certain rulemaking will reduce compliance costs or boost growth