ISDA has expanded its SwapsInfo analysis to include interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs).
Key highlights for October 2021 include:
- Total European IRD trading activity reported by APAs and TVs in the EU and UK was $15.1 trillion, slightly down from $16.1 trillion in September 2021.
- IRD traded notional reported by APAs and TVs in the UK accounted for 76.5% of total European IRD traded notional, while EU IRD traded notional accounted for 23.5%.
- Euro-denominated IRD traded notional accounted for 35.4% of total European IRD traded notional. Sterling-denominated transactions comprised 39.0% of traded notional, while contracts denominated in US dollars contributed 15.4%.
- Overnight index swaps accounted for 49.6% of total European IRD traded notional, while fixed-for-floating interest rate swaps and forward rate agreements totaled 37.8% and 7.8%, respectively.
- 46.5% of total European IRD traded notional occurred on TVs, 35.6% was executed by systemic internalizers and 17.9% was executed off venue.
Documents (1) for Interest Rate Derivatives Trading Activity Reported in EU, UK and US Markets: October 2021
Latest
From Milestone to Modernization
We’re coming to the end of an exceptionally busy year at ISDA, in which we celebrated our 40th anniversary and doubled down on our enduring commitment to safe and efficient derivatives markets. Reflecting on ISDA’s achievements since 1985, it’s clear...
Response on ASIC Derivative Transaction Rules
On December 3, ISDA submitted a response to the Australian Securities and Investments Commission (ASIC) consultation on the remake of the ASIC Derivative Transaction Rules (Clearing) 2015, which are due to sunset on April 1, 2026. ASIC proposed to remake...
IRD Trading Activity Q3 2025
This report analyzes interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key highlights for the third quarter of 2025 include:...
Ardagh Credit Event Processing and Trading
The Credit Derivatives Determinations Committee announced on December 15 that a restructuring credit event has occurred with respect to Ardagh. An ISDA Credit Market Infrastructure Group call was held on December 15 to discuss the processing of this event. The...