Dealer concentration in FX forwards

Counterparty Radar: data shows panel depth and top bank share correlated to size of manager’s book

Counterparty data

The number of counterparties a fund manager uses – and the amount of its business it hands to its top dealer – is directly related to the amount of FX forwards the manager trades.

The analysis is based on thousands of US mutual fund and exchange-traded fund filings to the US Securities and Exchange Commission, which offer a snapshot of positioning for each quarter. FX Markets aggregated the data across parent managers to offer unique insights on the FX forwards market. The data also forms the

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