US FCMs wrap up 2023 with required customer funds toeing record high
Wells Fargo, BNP Paribas marked new peaks in December
A surge in required segregated customer funds at US futures commission merchants’ (FCMs) through December – almost half of which accrued to Wells Fargo alone – brought the total back close to the record levels from seven months earlier, data from the National Futures Association (NFA) shows.
Aggregate funds totalled $161.9 billion on the last trading day of 2023, up 2.8% in four weeks and 5.9% year on year, and just 1% short of May’s record high.
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