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Oil price shock triggers big margin calls
Banks and exchanges worked through weekend in anticipation of oil collapse
![oil-spill oil-spill](/sites/default/files/styles/landscape_750_463/public/import/IMG/543/356543/oil-spill-3.jpeg.webp?h=44f9fbc6&itok=YMaYJDRf)
Clearing houses and banks spent the weekend preparing for an oil price collapse – and the margin calls that would come with it – after talks between Russia and Saudi Arabia broke down on Friday, March 6.
When trading opened on March 9, oil prices plummeted almost 30%, sparking fresh falls in global stock markets and US Treasury yields – a combination of moves that resulted in large demands for margin from central counterparties.
“Today was very busy. There have been significant margin calls
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