Pimco’s cuts to FX forwards positions hit dealers in Q4

Counterparty Radar: State Street takes top spot among dealers as BNP Paribas slides to fourth


US mutual funds’ FX forward positions were down nearly 7% in the final quarter of 2023, thanks largely to Pimco, which slashed its G10 foreign exchange forwards book by $72 billion. 

The California-based fund manager cut its FX forwards positions by nearly 40% compared with Q3, impacting several banks including BNP Paribas and UBS where it reduced its trading by $13.5 billion and $11.5 billion, respectively. 

Pimco saw an overall 6.7 percentage point decrease in its share of total trading by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: