Morgan Stanley back on top for US insurer FX forwards

Morgan
Stanley
has
overtaken
Citi
as
the
top
bank
for
FX
forwards
trades
with
US
insurers
in
the
final
quarter
of
2024,
thanks
to
an
uptick
in
trading
with
Massachusetts
Mutual.

The
US
dealer
leapt
from
second
place
in
Q3
to
retake
top
spot
in
Q4
on
the
back
of
a
$1.7
billion
uptick
in
positions
with
Mass
Mutual,
despite
the
latter’s
overall
volume
decline
in
the
quarter.
Morgan
Stanley
was
last
top
of
the
table
in
Q4
2022.

The
move
increased
Morgan
Stanley’s
market
share
of
volumes
among
US