Swaps Archives - The Industry Spread

CFTC Sets De Minimus Threshold for SWAPs

November 6, 2018

“Today’s final rule on the numeric threshold for swap dealer de minimis will provide the market with certainty that the threshold will not fall from $8 billion to $3 billion. I fully support the proposed final rule.”

FCM Shrinkage Alarms CFTC

October 17, 2018

For futures, the number of FCMs has declined from 100 CFTC-registered entities in 2002 to 54 as of August 2018, with the top five and ten FCMs holding 54% and 73% of total client margin, respectively. For swaps, the client clearing landscape is concentrated further to less than 20 FCMs.