June 30, 2025 (NO COMMENTS)

Required margin for cleared swaps grew to a record high at US futures commission merchants (FCMs) in the first half of June, data from the National Futures Association shows.

The 17 reporting firms held a combined $173.2 billion in client margin requirements as of June 16, up 1.5% over the previous two weeks.

Among the major firms, Royal Bank of Canada had the largest proportional rise, with margin