Fixed Income Clearing Corporation (FICC) and CME Group (CME) have established a cross-margining arrangement which enables capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group interest rate futures. Such entities may elect to have positions in Eligible Products at FICC and Eligible Products at CME carried in a Cross-Margining Account which are then margined based upon the combined risk presented by these positions.
As communicated in Important Notice GOV2151-26, CME and FICC will extend the cross‑margining program to end‑user clients of dually registered broker‑dealers and futures commission merchants (FCMs) that are common members of DTCC’s FICC and CME.
Recent enhancements made to improve functionality include:
- Cross‑margining VaR calculators that present total client savings and margin benefits
- Expanded APIs designed to strengthen margin stability, transparency, and automation.
The cross‑margining program enables greater capital and margin efficiencies when clearing U.S. Treasury securities through FICC and interest rate futures through CME where offsetting risk exposures exist.
For additional information, cross-margin reporting is available to FICC Members in the FICC Risk Reporting Portal. Please see the Portal User Guide for more information.
The Learn More section below lists additional resources.
For questions pertaining to cross-margining, please:
- Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. , or - Call 214-855-2020.
| FICC | CME |
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Note:
Ineligible products are only listed for FICC. Please refer to the CME Eligible Products List (on the left tab above) for more information on eligibility.
Learn More
| Reports | Presentations and Releases |
Reports best suited for End-User Client Cross-Margining:
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