CME Group confirmed that, pursuant to its rules, CME Clearing auctioned off portfolios of Ronin, LLC. The auction process was completed this morning, March 20, 2020. Though Ronin is a direct clearing member, it does not handle customer business; and no clients were impacted by the auction. The firm was unable to meet its capital requirements going forward.
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[…] are some foundational cracks forming as well. Ronin LLC, a clearing firm was dissolved last week and some banks acted to shore up money market funds after […]