May 24, 2024 (NO COMMENTS)

Dealer Rankings 2024: Data shows five big US dealers still lead, but with Europeans closing in

The hidden pecking order of the top derivatives dealers for US funds and life insurers has been shaken up, with Citi jumping to the summit in the second edition of Risk.net’s Dealer Rankings, a quantitative analysis of more than 1,000 cuts of trade-level data collected from regulatory filings. The top five dealers in this year’s rankings are all US names – the same five as last year, but in markedly different order. Bank of America and JP Morgan are hot on Citi’s heels, in second and third, respectively – but BofA jumped three spots to get there, while JP Morgan slid one spot in the table. Goldman Sachs also dropped a place to fourth, tying with Morgan Stanley, which dropped four places after beating JP Morgan to the top spot last year. Three European institutions – Barclays, BNP Paribas and Deutsche Bank – gave Wall Street’s champions a run for their money, but it was the UK dealer that came closest to breaking into the top five, after a dramatic improvement in its rates footprint with mutual funds and ETFs. Wells Fargo and UBS complete the top 10, replacing Credit Suisse and HSBC. Credit Suisse, unsurprisingly, plummeted in many of this year’s tables, and now stands fifteenth overall, while its acquirer jumped three places.

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