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SocGen FX forwards trading rockets with US fund managers

Created at 7 Jul · 3:35 AM1 source↑ Market-relevant
IN SHORT

Societe Generale saw its foreign exchange forwards trading volumes with US fund managers, particularly Pimco, more than double in Q1 2026. This surge propelled the French bank to become Pimco's top counterparty for FX forwards during the quarter.

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Key Numbers

Q1 2026quarter of increased FX forwards trading
$37.8 billionadditional FX forwards traded by Pimco

Who's Involved

Societe Generale
French bank with increased FX forwards trading volumes
Pimco
US fund manager and top counterparty for FX forwards

↳ Why This Matters

The substantial increase in FX forwards trading between Societe Generale and Pimco highlights shifts in institutional currency market activity and underscores Societe Generale's growing role as a key counterparty for major asset managers.

Key facts

  • Societe Generale's FX forwards trading volumes with US fund managers surged in Q1 2026.
  • Pimco's trading with Societe Generale more than doubled during the first quarter of 2026.
  • Societe Generale became Pimco's top counterparty for FX forwards in Q1 2026.
  • Pimco traded an additional $37.8 billion in FX forwards with Societe Generale compared to the previous quarter.

Societe Generale experienced a significant increase in its foreign exchange forwards trading volumes with US fund managers during the first quarter of 2026. The French bank's total volumes were boosted by a more than doubling of its trading activity with Pimco, a prominent California-based fund manager. This surge led Societe Generale to become Pimco's top counterparty for FX forwards during the quarter. Pimco traded an additional $37.8 billion in FX forwards with the bank compared to the preceding three months, reaching approximately $54.7 billion in total.

Frequently asked questions

FX forwards trading involves agreeing to exchange a specific amount of one currency for another at a predetermined exchange rate on a future date. It is used for hedging against currency fluctuations or for speculation.

Pimco (Pacific Investment Management Company) is a global investment management firm known for its expertise in fixed income and currency markets.

Becoming a top counterparty indicates a significant volume of business and trust between financial institutions, suggesting strong trading relationships and potentially lucrative business for the bank.

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Cadence
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How It Developed

Pimco's FX forwards trading with Societe Generale more than doubled in Q1 2026.
Societe Generale became Pimco's top counterparty for FX forwards in Q1 2026.
Societe Generale traded an additional $37.8 billion in FX forwards with Pimco compared to the previous quarter.

Sources

T1
SocGen FX forwards trading rockets with US fund managersRisk.net

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