Pimco powers BNP Paribas to top of repo rankings
Counterparty Radar: French dealer grew its repurchase book by 65% in first quarter
BNP Paribas took advantage of increased volumes with bond giant Pimco to become the largest dealer of non-cleared repurchase trades to US mutual and exchange-traded funds during Q1.
The French bank managed to grow its book by 65%, or around $4.5 billion, which was almost as much as it gained in new business from the California-based manager. At the end of the quarter, BNP’s total repo volumes were approximately $11.4 billion – $3.6 billion more than the second-largest dealer, Barclays.
It was
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