Ice’s European CDS clearing house adds €175m to default fund in Q2
In contrast, futures and options fund shrinks 6% quarter-on-quarter
Members of Ice Clear Europe’s credit default service (CDS) had to put up more cash to cover the likely fallout if one of their number defaulted. Mandatory pre-funded contributions to the default fund climbed 17% to €1.19 billion ($1.3 billion) in the three months to end-June, to their highest level since public disclosure began in Q3 2015.
Over the same period, the central counterparty’s (CCP) own pre-funded contributions to the fund fell €575,892 (1.3%) to €43.9 million. Ice’s pre-funded
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