Worst-case double default would have caused breach at CME
Stress loss based on hypothetical scenario was $390m higher than prefunded resources
CME Clearing chalked up a hypothetical stress loss in the second quarter, which would have breached default resources for the first time since data became available in 2020.
CME’s futures and options division saw its peak stress loss above initial margin in the event of a simultaneous default of two clearing members rise by 45.8% from $4.15 billion in Q1 2023, to $6.04 billion in Q2. On the day
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