CME-FICC cross-margin programme sees increased demand
Joint arrangement aids netting, reduces clearing costs and increases capacity
The CME has seen more demand from clearing members applying for self-clearing, despite some market participants’ concerns that it could increase overall risk. Members are hoping to take advantage of cross-margin arrangements between CME and the Fixed Income Clearing Corporation (FICC).
“We’ve seen an increase in the number of clearing members applying for house clearing associated with the cross-margin programme that we have with the [FICC] in the interest rate space,” said Suzanne Sprague
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