Required initial margin (IM) shifted substantially and in opposite directions at LCH’s four UK-based clearing services in the fourth quarter.
On one end of the spectrum, interest rate swaps unit SwapClear’s IM rose 12.8% compared with the previous three months, landing at a record high of £188.9 billion ($241.7 billion). ForexClear experienced a larger increase proportionally, of 31.2% to $8.7 billion.
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