JP Morgan flies into top FX options spot

Counterparty Radar: Renminbi/US dollar trades also keep Morgan Stanley IM in front


JP Morgan surged into the top spot for dealers listed on US fund managers’ foreign exchange options books in the third quarter, as the bank took centre stage for Chinese renminbi trades.

The US bank added $21 billion to its options trades visible with US funds, pushing its market share from 4% to 29%. The biggest change came in renminbi/US dollar, where the bank grew its book dramatically, from $96 million notional to $22.6 billion. 

Most of JP Morgan’s trades were with Morgan Stanley

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