Barclays overtakes BofA on client margin for swaps
July figures make FCM fifth-largest by total margin in the US
The US clearing unit of Barclays overtook Bank of America to become the fifth-largest futures commission merchant (FCM) by client margin for swap trades, data from the National Futures Association (NFA) shows.
As of July 15, Barclays had a record $16.9 billion in its coffers, driven by a $600 million surge over the previous two weeks. The latest milestone came hot on the heels of Barclays surpassing Wells Fargo on April 30. Bank of America and Wells Fargo reported a total of $16.8 billion and
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