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: Jack Hattem and Jared Noering
Jack Hattem, ISDA board member and managing director, global fixed income at BlackRock, and Jared Noering, ISDA board member and global head of fixed income trading at NatWest Markets, talk to Nick Sawyer, ISDA’s global head of communications, on how...
ISDA AGM Studio: José Manuel Campa, EBA
José Manuel Campa, chairperson of the European Banking Authority, speaks to Mark Gheerbrant, ISDA’s global head of risk and capital, about concerns over differences in timing and content of the Basel III reforms across jurisdictions and what can be done...
ISDA AGM Studio: Doug Donahue and Oliver Maxwell
Just a small delay in the delivery and receipt of a termination notice can have significant economic consequences for derivatives counterparties. Doug Donahue, partner at Linklaters, and Oliver Maxwell, product management director, platforms and regulatory compliance at S&P Global Market...
ISDA AGM Studio: Emmanuel Geinoz and Eleanor Kelly
Five jurisdictions went live with revised derivatives reporting rules in 2024, with more to follow in 2025 and beyond, putting reporting teams under extreme pressure to implement accurately and on time to avoid regulatory penalties. Emmanuel Geinoz, market infrastructure and...