Counterparty Radar
PGIM nearly eliminates credit options book
Counterparty Radar: Pimco also exits space in Q2 as US funds show record low positions in the instrument
StanChart sees big uptick in FX options positions
Counterparty Radar: UK bank benefits from MSIM trades as market for US mutual funds expands in Q2
BNPP back in dealer top three for FX forwards with mutuals
Deutsche Bank, HSBC hit by cuts at Vanguard and Pimco in Q2
MassMutual exited inflation hedges in Q2
Counterparty Radar: Closure of $1.5 billion book dealt a blow to BNP Paribas’s dealer ranking
US life insurers take axe to FX forwards positions in Q2
Counterparty Radar: $47.5bn in G10 positions reported, a 12.9% decline from Q1
US mutual funds piled into call-selling strategies in Q1
Counterparty Radar: BlackRock, Franklin Templeton and T Rowe Price among the managers who added to single-stock positions
Lincoln, Global Atlantic push JPM to index options top spot
Counterparty Radar: Among life insurers, options notional grew 7% in Q1
Pimco powers BNP Paribas to top of repo rankings
Counterparty Radar: French dealer grew its repurchase book by 65% in first quarter
Citi’s single-name CDS book with retail funds doubled in Q1
Counterparty Radar: New trades with PGIM totalling $2.4 billion return Citi to top of dealer rankings
Global Atlantic’s swaptions book surges
Counterparty Radar: KKR-owned firm exploits lower volatility in Q1 as swaptions market for US life insurers grows 17%
US retail funds continue to ditch inflation hedges
Counterparty Radar: Aggregate notional drops 27% in Q1 as Pimco unwinds more swaps
John Hancock Life loads on inflation hedges
Counterparty Radar: US life insurer inflation swaps market doubles in Q1 on back of Manulife-owned firm’s expansion
Invesco is first US mutual fund to trade €STR swaptions
Counterparty Radar: Trades were some of just a handful of €STR swaptions to hit the market this year
PGIM trades reinforce Citi’s credit options stronghold
Counterparty Radar: US retail funds’ aggregate notional drops to lowest levels since late 2020 in Q1
Allianz Life triples index CDS book
Counterparty Radar: US life insurer market’s notional volume doubles in Q1
Pimco returns to sold index CDS growth
Counterparty Radar: Market for US retail funds sheds $5.2 billion in volume in Q1
Deutsche Bank’s swaptions trading with US retail funds soars
Counterparty Radar: Space grows 6% in Q1 as Citi’s book of business also surges
MSIM revived RMB options activity in Q1
Counterparty Radar: Investment firm added $2 billion in dollar/renminbi options, mainly with JP Morgan and StanChart
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2023: We have a simple way to compare dealers. Sort of simple, anyway
Meet the sharks, stroke the rays in hidden OTC ecosystem
Dealer Rankings 2023: Analysis of millions of trades reveals big fish – and small ones – in 10 derivatives instruments
In age of constraints, top dealers pick their battles
Dealer Rankings 2023: Three US banks are consistently top 10; none are consistently top five
Same instrument, different market
Dealer Rankings 2023: For buy-side firms, the list of banks you can trade with depends on who you are
MassMutual maintains lead in IR swaps market for life insurers
Counterparty Radar: Bank of America heads dealer rankings as sector’s notional drops 1%
Fidelity FX forwards trades propel BofA to top dealer spot
Counterparty Radar: Bank of America leads dealer rankings in Q1 for the first time