Citi fastest growing FCM; Credit Suisse loses ground – CFTC data
Citi grows client margin 36% in year to end-April, Credit Suisse shrinks 16%
Citigroup was the fastest growing swaps clearing broker in the 12 months to April 30, increasing the amount of client margin it was required to hold by 36%, while that required across all brokers grew just 14%.
The US bank’s futures commission merchant (FCM) also grew its share of required client margin – which can be used as a proxy for client clearing volume – to 27% of the total, up from 25% at end-2017 and 23% from April 2017.
The second-largest FCM, Morgan Stanley, grew required margin
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