Interactive Brokers statement says several of its customers held long positions in oil contracts on CME and ICE Europe
In a nutshell:
- customers incurred losses in excess of the equity in their accounts
- IB has fulfilled required variation margin settlements with the respective clearinghouses on behalf of its customers
- As a result, the Company has recognized an aggregate provisionary loss of approximately $88 million.
- The Company does not believe that any anticipated losses will have a material effect on its financial condition.
Heads up, IB will not be by themselves in this.