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JP Morgan SE, BPCE drive surge in European OTC derivatives

Foreign-owned dealer and French bank climb rankings on rapid notional growth in 2024

JP Morgan’s main European Union arm recorded the largest increase in over-the-counter derivatives notional among the bloc’s top banks for the second year in a row in 2024, adding €5.67 trillion ($6.71 trillion) to its book. It was followed closely by Groupe BPCE, which expanded notional by €5.59 trillion, reshaping the upper tier of the European rankings.

Among the 32 banks tracked by the European

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