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Renminbi splurge lifts BNPP, MSIM in Q1 options data
Counterparty Radar: Morgan Stanley IM is largest options user, following series of huge renminbi calls
![Huge-renminbi-calls Huge-renminbi-calls](/sites/default/files/styles/landscape_750_463/public/2021-07/Huge-renminbi-calls.jpg.webp?h=6f058b51&itok=_BzQGAm2)
Morgan Stanley Investment Management has become the largest user of foreign exchange options among US mutual fund managers, overtaking the long-time holder of that title, Franklin Templeton, in the first quarter of this year and extending a run of options portfolio growth, and decline, for each firm.
In the first quarter of 2020, MSIM was holding $9.7 billion in FX options trades on its books – enough to make it the sector’s fourth-largest options user – while Franklin Templeton had $43.3
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