JP Morgan is warning hedge fund clients that it will demand they post more cash at any time during the day if their trades lose value.
The biggest US bank by assets called clients of its prime brokerage division in the aftermath of the collapse of Archegos Capital Management, according to three people familiar with the matter. JP Morgan told the hedge funds and family offices that they would have to post more collateral on their single-name equity swap positions if they lost value intraday.
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