The latest ISDA SwapsInfo Quarterly Review shows that trading volumes for both interest rate derivatives (IRD) and credit derivatives decreased during the first half of 2021 compared to the first half of 2020.
Key highlights for the first half of 2021 include:
- IRD traded notional decreased by 16.0% to $121.0 trillion in the first half of 2021 from $144.0 trillion in the first half of 2020. Trade count grew by 9.8% to 981.0 thousand from 893.4 thousand over the same period.
- Cleared IRD transactions represented 75.7% of total traded notional and 71.5% of total trade count.
- IRD traded on a swap execution facility (SEF) represented 69.8% of total traded notional and 67.3% of total trade count.
- Credit derivatives traded notional decreased by 26.1% to $4.5 trillion in the first half of 2021 from $6.1 trillion in the first half of 2020. Trade count dropped by 29.8% to 118.7 thousand from 169.1 thousand over the same period.
- Cleared credit derivatives transactions represented 80.4% of total traded notional and 83.8% of total trade count.
- SEF-traded credit derivatives represented 80.1% of total traded notional and 83.5% of total trade count.
Click on the attached PDFs to read the full summary and/or full report.
Documents (2) for SwapsInfo First Half of 2021 and the Second Quarter of 2021 Review
Latest
ISDA ALF: Katherine Tew Darras Opening Remarks
ISDA Annual Legal Forum London, February 11, 2026 Opening Remarks Katherine Tew Darras ISDA General Counsel Good morning and welcome to ISDA’s Annual Legal Forum. Thank you for joining us today and thanks to our platinum sponsors – Cleary...
Maintaining Focus on Basel III Endgame Recalibration
In its original form, the US Basel III endgame proposal would have resulted in disproportionate increases in capital for trading book activities, forcing banks to make difficult choices about their participation in certain businesses. After two-and-a-half years, a revised proposal...
IRRBB Management in EMDEs
Interest rate risk in the banking book (IRRBB) has become a growing priority for banks and regulators in emerging market and developing economies (EMDEs). As many of these countries face monetary tightening cycles and ongoing macroeconomic volatility, bank balance sheets...
Response to CPMI-IOSCO on Consultation
On February 5, ISDA and FIA responded to the Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) consultation on the management of general business risks and general business losses by financial market infrastructures (FMIs)....