Liquidity risk spikes at CME and OCC
CCPs revised estimated worst-case payment obligation to highest levels on record in Q4
The Options Clearing Corporation and CME Clearing’s futures and options division revised upwards their estimates of the largest payment obligation that would be caused by the default of any of their participants and their affiliates, with both reaching all-time highs.
The OCC’s projected largest same-day payment obligation was set at $13.3 billion in the fourth quarter of 2024, a 32.3% increase from the prior quarter, surpassing its previous record of $12 billion.
At $5.3 billion, the actual
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