PGIM trades reinforce Citi’s credit options stronghold

Counterparty Radar: US retail funds’ aggregate notional drops to lowest levels since late 2020 in Q1

Citi tweaks cash incentives
Risk montage

Citi maintained its grasp on the credit options market for mutual and exchange-traded funds (ETFs), as the instrument’s largest user on the buy side, PGIM, turned to the US dealer for nearly all its positions, first-quarter filings show.

With Prudential’s asset management arm holding four-fifths of quarterly notional among US retail funds on average since 2022, dealer rankings have risen and fallen with the firm’s activity, and the sector’s volumes have moved accordingly. In Q1 2023, PGIM

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