GameStop frenzy triggered $2 billion margin breach at OCC
Total initial margin held by the OCC's default fund stood at $114.4 billion in Q1
The Options Clearing Corporation (OCC) incurred a $2.01 billion initial margin (IM) breach in the first quarter, driven by a borrowing position in GameStop shares between January 25 and January 27.
The peak IM breach in Q1 dwarfed the previous record for the central counterparty (CCP) of $652 million in Q3 2016, according to the latest publicly available figures.
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