Morgan Stanley regains FX forwards top spot

Counterparty Radar: US bank dethrones HSBC, which slipped to fourth in Q3

Photo: Richard Levine/Alamy

Morgan Stanley regained its position as the top foreign exchange forwards dealer for US mutual funds in the third quarter, dethroning HSBC on the back of a surge in volumes from Pimco.

Overall, US mutual funds shrunk their positions in FX forwards in Q3, with the market declining by around $37.2 billion, or 4%, according to data from disclosures made to the US Securities and Exchange Commission that have been gathered and analysed by FX Market's Counterparty Radar service. The overall fall in

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