At FICC, 20 margin breaches in Q1

The Fixed Income Clearing Corporation (FICC) reported 20 instances when a client account’s initial margin coverage fell short of its risk exposure in the three months to end-March. In the year-ago quarter, the number was six.

The clearing house, a division of the Depository Trust & Clearing Corporation (DTCC), posted 157 margin breaches for the 12-month period ending Q1 2019 compared with 137 for the 12 months till Q4 2018.

Of those 157, FICC’s government securities division (GSD) accounted

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