MassMutual drives JP Morgan’s FX forwards surge with insurers

Forward-rate-agreement-market-in-trouble

- By Cole Lipsky
- 15 Jun 2023

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A jump in trading by Massachusetts Mutual Life has helped JP Morgan increase its total value of foreign exchange forwards trades with US insurers by nearly three-quarters and sees the US bank leap back into the top 10 dealer list for the first time since Q2 last year.

Insurers added $1.33 billion of FX forwards with JP Morgan in Q1, taking its positions to $3.17 billion in total – a rise of 72% on Q4 last year, according to industry filings collected and analysed by FX Markets’ Counterparty

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