Citi, Barclays raise FCM target residual interest 28% in June
Backstop funds also marginally up as a proportion of required customer funds
The futures commission merchant (FCM) arms of Citi and Barclays each increased target residual interest (TRI) for futures and options (F&Os) by 28% in June, data from the Commodity Futures Trading Commission shows (CFTC).
TRI – the amount the FCM communicated to its regulator it intends to keep on hand in the event a customer cannot meet its requirements – was $446 million at Citi, up 28.1% or $98 million compared with May. The target amount equated to 2.8% of required customer funds in the
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