CME default fund contributions likely to rise following CFTC move
A change in CFTC rules could lead to clearing members having to increase default fund contributions at CME and other US CCPs
Clearing members at CME Group and other US central counterparties (CCPs) could be hit with higher default fund contributions following rule changes announced by the Commodity Futures Trading Commission (CFTC) last week.
The changes are an attempt to bring US rules on derivatives clearing organisations (DCOs) in line with the Principles for Financial Market Infrastructures (PFMIs), published last year by the International Organization of Securities Commissions (Iosco) and Committee on Payment and
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