ISDA’s analysis of credit default swap (CDS) market size and structure reveals that market risk transfer activity (MRTA) in single-name CDS has been steady since 2016. The analysis also shows that the universe of single-name CDS with MRTA remains large. Over 500 names generated MRTA in each quarter over the past five and a half years. At the same time, MRTA is rather concentrated – 27 names account for about 45% of total single-name CDS MRTA. Meanwhile, MRTA in index CDS leveled off in 2016, and has been on an upward trend since the beginning of 2017.
This analysis explores credit derivatives market size from the start of 2014 until the middle of 2019, using data from the Depository Trust & Clearing Corporation Trade Information Warehouse.
Documents (1) for Global Credit Default Swaps Market Study
Latest
Paper on Proposal 6 on Margin Transparency
On November 16, ISDA published a document that looked at proposal 6 in the final Basel Committee on Banking Supervision (BCBS), Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) report on margin transparency. Proposal...
Tender Issued for DC Administrator Role
ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC...
ISDA SIMM: The Standard for IM Calculations
The ISDA Standard Initial Margin Model (ISDA SIMM) plays an important role in ensuring margin calculations are consistent, transparent and aligned with global best practices and regulatory requirements. Since its launch in 2016, the model has been rigorously tested, regularly...
ISDA In Review – October 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in October 2025.