Futures Accounts: The total amount of customer funds in futures accounts at US FCMs reached a record $409.4 billion in September, up 1.9% from the previous month and up 20.3% over the last 12 months. The number of FCMs holding customer funds in futures accounts was recorded at 50 in September, same as a year ago but down from 53 five years ago.
Swaps Accounts: Customer funds held in cleared swaps accounts at US FCMs reached $177.1 billion in the month of September, the highest amount ever recorded. September’s level was up 1% from August 2025 and up 3.9% from September 2024. The number of FCMs holding customer funds in cleared swaps accounts was recorded at 17 in September, up from 14 a year ago with Deutsche Bank Securities, Robinhood Derivatives, and Webull Financial joining.
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 September, with a total of $101 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 35% to $8.2 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.
