Morgan Stanley bests Citi as top forwards shop for US funds

Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts

Morgan-Stanley-dethrones-Citi
After five quarters in which Citi had the biggest share of FX forwards trading with US funds, Morgan Stanley has taken a narrow lead. HOW DID THIS HAPPEN: In a word, Vanguard. The forwards market’s biggest user gave the biggest share of its business to Morgan Stanley, including a string of jumbo euro/US dollar trades. WHY IT MATTERS: Competition is fierce. Citi was nearly shunted into third place by BNP Paribas, with State Street and Bank of America not far behind. Each of those four dealers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here