
Renminbi splurge lifts BNPP, MSIM in Q1 options data
Counterparty Radar: Morgan Stanley IM is largest options user, following series of huge renminbi calls

Morgan Stanley Investment Management has become the largest user of foreign exchange options among US mutual fund managers, overtaking the long-time holder of that title, Franklin Templeton, in the first quarter of this year and extending a run of options portfolio growth, and decline, for each firm.
In the first quarter of 2020, MSIM was holding $9.7 billion in FX options trades on its books – enough to make it the sector’s fourth-largest options user – while Franklin Templeton had $43.3
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