Initial Margin – Combined

This visualization shows the total amount of initial margin held by each CCP at the end of the quarter, as reported in field 6.1.1 of its quarterly public disclosures. Initial margin functions as the first line of defense against losses from a default. The amount is generally equivalent to the CCP's estimate for the potential loss on a position over a short time horizon, based on the current level of price volatility and historical data on extreme price movements.

IM Combined
IM Service Level
DF Combined
DF Service Level
Margin Breaches
Stress Loss

Three classes of initial margin are shown: House Net, Client Net, and Client Gross. This reflects differences in account structure at the CCPs. The "house" subset consists of initial margin required for positions held in respect of CCP members for their own house accounts. The "client net" subset consists of initial margin required for client accounts that allow CCP members to net the requirements across multiple clients. The "client gross" subset consists of the sum of all initial margin required for each client held within a gross client margin account.

Functionality: use the "Select Report Quarter" to access historical data. To narrow down the list of CCPs included in the visualization, unclick the boxes next to the CCP names.

    Initial Margin
    PQD Field 6.1.1


    Disclaimer: The data in this report are collected from the exchanges.  FIA publishes this report for informational purposes and does not guarantee its accuracy or completeness.  FIA specifically disclaims any legal responsibility for any errors or omissions and any liability for losses or damages incurred through the use of the report.  Please notify if there are any errors or omissions.

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