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SwapsInfo Full Year 2021 and the Fourth Quarter of 2021 Review

Research
SwapsInfo February 3, 2022
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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.

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Documents (2) for SwapsInfo Full Year 2021 and the Fourth Quarter of 2021 Review

Latest

Paper on Proposal 6 on Margin Transparency

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Tender Issued for DC Administrator Role

ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC...

ISDA SIMM: The Standard for IM Calculations

The ISDA Standard Initial Margin Model (ISDA SIMM) plays an important role in ensuring margin calculations are consistent, transparent and aligned with global best practices and regulatory requirements. Since its launch in 2016, the model has been rigorously tested, regularly...