Goldman Wants a 100% Margin on Some Bitcoin Futures Trades
- Interactive Brokers to require 50% margin long, 240% short
- Brokers impose margin requirements above clearinghouses
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Goldman Sachs Group Inc. demanded some clients set aside funds equal to the full value of their bitcoin futures trade as a condition for clearing the transaction, according to people familiar with the investments.
The demands deterred some customers from seeking to clear trades through the bank and led them to take their business elsewhere, said the people, who asked not to be identified discussing the matter. The guidelines are inclusive of other margin requirements such as Options Clearing Corp.’s 44 percent, required to clear contracts traded on the Cboe Global Markets Inc., and the 47 percent to be demanded by CME Group Inc. when it begins trading bitcoin futures next week.