BNP Paribas’ FX forwards volumes jump 75% in Q2
Counterparty Radar: French bank’s increased notional with Pimco lifts it into top spot
BNP Paribas regained top spot in the dealer rankings for foreign exchange forwards trades with US mutual funds in the second quarter as its volumes jumped by three-quarters owing to increased business with Pimco.
Of the $56.8 billion growth in notional at the French bank, $44 billion was accounted for by more activity with the California-based fund manager, bringing BNPP’s total with US mutual funds and exchange-traded funds (ETFs) to $132.2 billion.
By contrast, the previous quarter’s top FX
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