Futures Accounts: The total amount of customer funds in futures accounts at US FCMs reached a record $417.4 billion in January, up 4.9% from the previous month and up 20.4% over the last 12 months. The number of FCMs holding customer funds in futures accounts was recorded at 51 in December, up from 49 a year ago and the same as five years ago.
Swaps Accounts: Customer funds held in cleared swaps accounts at US FCMs reached $186.2 billion in the month of January, the highest amount ever recorded. January’s level was up 0.6% from December 2025 and up 13.6% from January 2025. The number of FCMs holding customer funds in cleared swaps accounts was recorded at 23 in December, up from 14 a year ago.
Note: For some of these firms, the customer funds are held for trading in event contracts, a type of derivative that the CFTC puts into the swaps category for certain regulatory purposes.
FCM Ranking: JP Morgan Securities was the FCM with the most customer funds in January, with a total of $101.7 billion across swaps, futures and Part 30 accounts. Looking at just the 15 largest FCMs, HSBC Securities USA was the FCM with the largest increase in customer funds compared to a year ago, with a growth of 76.6% to $10.3 billion.
Access the FIA FCM TrackerTM to view interactive visualizations covering monthly data reported to the US Commodity Futures Trading Commission on customer funds held at US futures commission merchants.
