Citi dominates mutual funds’ Q1 swaption expansion

Counterparty Radar: Goldman maintains commanding share of dealer business as space hits new record high


US mutual funds added $13 billion of interest rate swaptions exposure to Citi in the first quarter of 2022, with large clients like Hartford Funds conducting all their trades with the bank.

This saw Citi capture most of the space’s expansion in Q1 as managers’ aggregate total reached roughly $238 billion, a record high over the past nine quarters for which has data from filings submitted to the Securities and Exchange Commission.

Nevertheless, Goldman Sachs remains by far the largest

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