The latest ISDA SwapsInfo Quarterly Review shows that trading volumes for both interest rate derivatives (IRD) and credit derivatives decreased during the first quarter of 2021 compared to the first quarter of 2020.
Key highlights for the first quarter of 2021 include:
- IRD traded notional decreased by 18.3% to $71.2 trillion in the first quarter of 2021 from $87.2 trillion in the first quarter of 2020. Trade count grew by 14.0% to 549.6 thousand from 482.1 thousand over the same period.
- Cleared IRD transactions comprised 75.1% of total traded notional and 70.9% of total trade count.
- IRD traded on swap execution facilities (SEFs) represented 68.7% of total traded notional and 66.9% of total trade count.
- Credit derivatives traded notional decreased by 32.9% to $2.6 trillion in the first quarter of 2021 from $3.9 trillion in the first quarter of 2020. Trade count fell by 32.0% to 69.7 thousand from 102.4 thousand over the same period.
- Cleared credit derivatives transactions represented 81.8% of total traded notional and 84.5% of total trade count.
- SEF-traded credit derivatives represented 81.5% of total traded notional and 84.3% of total trade count.
Click on the attached PDFs to read the summary and/or full report.
Documents (2) for SwapsInfo First Quarter of 2021 Review
Latest
ISDA AGM Studio: David Bailey
David Bailey, executive director, prudential policy, at the Bank of England, speaks with ISDA CEO Scott O’Malia about the UK’s approach to Basel 3.1, the impact of the revised US Basel III endgame on cross‑border consistency and the role of the...
ISDA AGM Studio: Harleen Bains and Sonali Das Theisen
How have trading desks responding to increased market volatility this year? Harleen Bains, ISDA board member and head of global markets sales, Canada, at RBC Capital Markets, and Sonali Das Theisen, global head of FICC e‑trading and markets strategic investments...
ISDA AGM Studio: Scott O'Malia and Chris Edmonds
Christopher Edmonds, president, fixed income & data services, at Intercontinental Exchange, speaks with Scott O’Malia, ISDA CEO, about how market volatility, regulatory change and technological transformation are reshaping global markets. The discussion explores what recent volatility has meant for participation,...
ISDA AGM Studio: Bill Borden, Microsoft
Bill Borden, corporate vice president, worldwide financial services, at Microsoft, speaks with Mark New, ISDA’s co-head of digital transformation and senior counsel, about how artificial intelligence (AI) is shaping the future of financial markets and the key factors firms should...