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
Episode 60: Modelling Margin
The ISDA Standard Initial Margin Model has proved to be one of the most consequential industry models ever developed. The Swap talks with two industry veterans involved in its development. Please view this page via Chrome to access the recording.
ISDA Wins Digital Solution of the Year Award
ISDA has won Digital Solution of the Year at the GlobalCapital Global Derivatives Awards 2026 for the ISDA Digital Regulatory Reporting (DRR) initiative and the ISDA Notices Hub. The award recognizes ISDA’s continued work to develop mutualized digital solutions that...
ISDA Launches Digital Emissions Definitions
ISDA has launched a natively digital version of its documentation for emissions allowance transactions, enabling the framework to be updated more efficiently as emissions trading systems (ETSs) evolve. The 2026 ISDA Emissions Transactions Definitions provide standardized documentation for physically settled...
Scott O’Malia Opening Remarks
ISDA Derivatives Trading and Treasury Forum London, September 30, 2026 Opening Remarks Scott O’Malia ISDA Chief Executive Good morning, and welcome to the ISDA Derivatives Trading and Treasury Forum. Thanks for joining us today, and a big thank you...