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Mutual funds dump two-thirds of FX options positions in Q4
Counterparty Radar: Morgan Stanley Investment Management leads fall in volumes with big cuts to RMB trades
![FX-options-volumes-down FX-options-volumes-down](/sites/default/files/styles/landscape_750_463/public/2023-03/FX-options-volumes-down.jpg.webp?itok=b6lWfvKn)
US mutual funds slashed FX options notionals on their books in the fourth quarter of 2022, with positions falling by 66% compared to the previous quarter.
Managers held a total of $15.7 billion of FX options at the end of Q4, according to their quarter-end filings to the US Securities and Exchange Commission – the lowest total amount since Counterparty Radar records began at the start of 2020 and down 80% from the third quarter of 2021.
The drop in FX options positions mainly involved those
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