How much of the OTC derivatives market is cleared? How much remains to be cleared? What is the composition of the non-cleared segment of the market? Significant changes in the OTC derivatives market in recent years are altering its size and composition. Central clearing, for example, increases notional amounts outstanding, as one bilateral trade becomes two cleared transactions. Compression of both bilateral and cleared trades, on the other hand, reduces notional outstanding. New requirements related to margin for non-cleared trades may drive users of these instruments to cleared products or to other alternatives. Given these dynamics, ISDA conducted an analysis of the interest rate derivatives (IRD) market.
Documents (1) for Interest Rates Derivatives: A Progress Report on Clearing and Compression
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ISDA In Review – June 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in June 2025.
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Key Trends in OTC Derivatives Market H2 2024
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Request to Extend Relief on No-Action Letter 22-18
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