The ISDA SwapsInfo Quarterly Review provides analysis of interest rate derivatives (IRD) and credit derivatives trading activity. The report provides a breakdown of cleared and non-cleared activity, swap execution facility (SEF) and off-SEF traded notional, product taxonomy and currency.
IRD and credit derivatives traded notional and trade count data is taken from the ISDA SwapsInfo website (swapsinfo.org), using information from the Depository Trust & Clearing Corporation and Bloomberg swap data repositories. This report covers only trades required to be disclosed under US regulations.
Key highlights for the full year 2019 include:
- IRD traded notional increased to $255.3 trillion from $236.6 trillion in 2018. Trade count grew to 1.5 million from 1.3 million over the same period.
- Cleared IRD transactions represented 88.9% of total traded notional compared with 88.1% in 2018.
- SEF-traded IRD represented 56.6% of total traded notional compared with 55.8% in 2018.
- Credit derivatives traded notional decreased to $8.4 trillion from $9.5 trillion in 2018. Trade count dropped to 231.2 thousand from 252.3 thousand over the same period.
- Cleared credit derivatives transactions represented 80.0% of total traded notional compared with 82.8% in 2018.
- SEF-traded credit derivatives represented 76.6% of total traded notional compared with 78.8% in 2018.
Click on the attached PDFs to read the summary and/or full report.
Documents (2) for SwapsInfo Full Year 2019 and the Fourth Quarter of 2019 Review
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...