Clearing costs creep up for clients
Some futures commission merchants are raising fees for clearing and collateral transformation services, buy-siders say
Futures commission merchants (FCMs) are raising the cost of clearing and accompanying services such as collateral transformation as the business struggles to make money, some clients claimed at Risk's OTC Derivatives Clearing Summit in New York yesterday.
The issue was raised by a member of the audience, who asked a panel of insurers whether they had seen FCMs hiking their clearing fees since signing agreements with them. The delegate revealed that his own firm is being pressed to pay more.
"We
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