Morgan Stanley solidifies forwards lead as Citi and BNP slip

Counterparty Radar: Non-G10 pairs regain momentum despite dip in total positions in Q3

Morgan-Stanley
Richard Levine/Alamy

Morgan Stanley has consolidated its position as the leading provider of foreign exchange forwards to US mutual funds in the third quarter, further growing its market share in a quarter that its two other competitors for the top spot – Citi and BNP Paribas – lost ground.   

US mutual funds on aggregate reported $919 billion in FX forwards in Q3, and Morgan Stanley was responsible for approximately $116 billion of those, representing 13% of total volume. That gave the US bank a modest gain of

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