SwapsInfo First Quarter 2015 Review

The ISDA SwapsInfo Quarterly Review provides analysis on interest rate derivatives and credit default swap (CDS) index trading activity. The report provides a breakdown of publicly available data to analyze the impact of regulatory change on electronic and bilateral trading volumes, as well as cleared and non-cleared activity.

The research shows that electronic trading volumes continued to play an important role in total trading activity during the first quarter of 2015. More than half of interest rate derivatives and 70% of CDS index average daily notional volumes were traded on electronic execution venues in the first quarter of the year. On average, more than 70% of interest rate derivatives and 80% of CDS index daily notional volume was cleared during the three-month period.

Interest rate derivatives and CDS index notional volume and trade count data is taken from the ISDA SwapsInfo site (swapsinfo.org), using data from the Depository Trust & Clearing Corporation and Bloomberg swap data repositories (SDRs).

Documents (1) for SwapsInfo First Quarter 2015 Review

Joint Paper on UK EMIR Reform

On July 1, ISDA and UK Finance published a paper, which recommended a set of reforms for the UK European Market Infrastructure Regulation (UK EMIR), carefully considering each EU EMIR 3.0 reform and asking whether we would wish to adopt...

Response to FCA on UK EMIR Reporting

On June 30, ISDA submitted a response to chapter 5 of the UK Financial Conduct Authority’s (FCA) quarterly consultation CP25/16 on trade repository reporting requirements under the UK European Market Infrastructure Regulation (UK EMIR). Chapter 5 proposes ‘Amendments to the...

CDS Trading Activity in EU, UK and US Markets

This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...