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, GFXD, UK Finance, LMA Respond to HMT on UK BMR Reform
On March 11, ISDA, the Global Foreign Exchange Division of the Global Financial Markets Association, UK Finance and the Loan Market Association responded jointly to a consultation from His Majesty’s Treasury on the future regulatory regime for benchmarks and benchmark...
ISDA Recommendations to Simplify EU Regulation
On March 9, ISDA submitted a paper to the European Commission setting out focused proposals to improve the functioning of the EU regulatory framework for derivatives. The paper comprises eight targeted recommendations to simplify selected Level 1 provisions in a...
New Selection Process for Standard Reference Obligations (SROs) FAQs
This Frequently Asked Questions (“FAQ”) document gives information about the new selection process for Standard Reference Obligations (SROs). Note that ISDA may update these FAQs on occasion. Please check back periodically for new versions.
Refreshing the FX Definitions
A lot has changed in the FX derivatives market since 1998, when the last set of standard definitions for FX transactions were published. Trading volumes have grown substantially, and average daily turnover has risen by six times. Market practices have...