Pimco and Vanguard Reduce FX Forwards Trading with BNP Paribas for FX Markets
BNP Paribas saw a significant decrease in their foreign exchange forwards book with US mutual funds during the third quarter of 2024. Notional volumes plummeted from $132.2 billion to $66.9 billion, causing the bank to tumble from first place to seventh in the dealer rankings. Pimco and Vanguard were responsible for this shift, reducing their positions with the French bank by $44.6 billion and $20.7 billion respectively.
This drop in activity allowed State Street to move up one spot in the rankings. It’s always interesting to see how changes in trading volumes can impact the standings of these financial institutions. While BNP Paribas may have seen a decline in their FX forwards trading with mutual funds, it’s essential to keep an eye on how these trends develop over time. Stay tuned for more updates on market movements and trading activities in the future.
