Vanguard extends forwards dominance as Citi dips
Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4
Vanguard’s dominance of foreign exchange forward transactions grew in the fourth quarter, with the firm responsible for more than a third of reported FX forward positions across all US mutual funds by volume, and more than half of euro/US dollar trades, according to FX Markets’ analysis of around 20,000 filings to US regulators.
On the dealer side, Citi maintained its leading overall position but its market share continued to slide, partially due to a drop in trading with Vanguard, with the
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