Default funds at CME, JSCC and OCC grew to record levels in Q1
CCPs’ skin in the game fails to keep pace with member contributions
Three central counterparties (CCPs) saw their default funds grow to record highs in the first quarter.
Clearing member contributions to the default fund at the Japan Securities Clearing Corporation’s index futures and options (F&O) unit increased 19.6% to ¥607.1 billion ($3.8 billion). The Options Clearing Corporation’s (OCC) default fund was up 13.2% to $18.5 billion, while CME Clearing’s F&O division saw its default resources rise 11.3% to $7.6 billion.
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