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CFTC Proposal for Swaps Margin May Apply to Futures

The Commodity Futures Trading Commission may require margin changes in futures markets that are being considered for new swaps clearing plans.

The CFTC has proposed divvying up margin payments of individual swaps users at clearinghouses rather than allowing accounts to be treated as one pool by banks representing multiple customers. Futures markets now allow banks to pool all their customer accounts together when settling a day’s margins. The swaps plan may be used for futures margin, too, said CFTC Commissioner Scott O’Malia.