Filings reveal biggest FX forwards dealers

Counterparty Radar: Group of four banks executed 48% of sector’s trades during second quarter


Analysis of foreign exchange forwards trading in almost 3,000 US mutual fund filings has revealed a handful of banks dominate the business, with the top four dealers alone taking half of market share in the second quarter, and the top seven accounting for more than two-thirds of all volume.

The study is based on individual fund filings to the US Securities and Exchange Commission (SEC) during the first and second quarters this year, comprising 185,091 trades with a total value of $1.75 trillion

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