The latest ISDA SwapsInfo Quarterly Review shows that trading volume for interest rate derivatives (IRD) increased, while trading volume for credit derivatives decreased in the full year 2021 compared to the full year 2020.
Key highlights for the full year 2021 include:
- IRD traded notional increased by 0.5% to $231.0 trillion in 2021 from $229.7 trillion in 2020. Trade count rose by 19.5% to 1.9 million from 1.6 million over the same period.
- Cleared IRD transactions represented 75.6% of total IRD traded notional and 72.3% of total trade count.
- IRD traded on swap execution facilities (SEFs) represented 65.5% of total IRD traded notional and 66.7% of trade count.
- Credit derivatives traded notional decreased by 1.7% to $9.5 trillion in 2021 from $9.7 trillion in 2020. Trade count fell by 11.8% to 243.0 thousand from 275.4 thousand over the same period.
- Cleared credit derivatives transactions represented 80.6% of total traded notional and 84.4% of total trade count.
- SEF-traded credit derivatives represented 79.9% of total traded notional and 83.9% of total trade count.
Click on the attached PDFs to read the full summary and/or full report.
Documents (2) for SwapsInfo Full Year 2021 and the Fourth Quarter of 2021 Review
Latest
Response to EC Call for Evidence on Tax Omnibus
On March 30, ISDA, the International Securities Lending Association and the Association for Financial Markets in Europe responded to the European Commission’s (EC) call for evidence on the tax omnibus. The associations argue that inconsistent interpretation of “beneficial ownership” among...
Managing Risk for Australian Superannuation Funds
Assets managed by the Australian superannuation sector reached A$4.5 trillion in December 2025, equivalent to around 160% of Australia’s GDP. Given its size, the sector has rapidly expanded its global footprint, with the share of offshore investments growing as a...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
Next Steps on a Much Improved Basel III Endgame
Publication of the revised Basel III endgame proposal earlier this month marks an important step towards completion of the global capital reforms, giving banks much-needed clarity on the likely calibration of the rules in the US. The new proposal is...