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
ISDA Response to EC on Environmental Legislation
On September 10, ISDA, the Association for Financial Markets in Europe (AFME) and the European Fund and Asset Management Association (EFAMA) submitted a joint response to the European Commission’s (EC) call for evidence on reducing the administrative burden in environmental...
Credit Derivatives Trading Activity Q2 2025
This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...
ISDA Trading and Treasury Forum: CEO Remarks
ISDA Derivatives Trading and Treasury Forum London, September 16, 2025 Opening Remarks Scott O’Malia ISDA Chief Executive Officer Good morning, and welcome to the ISDA Derivatives Trading and Treasury Forum. Thank you to CME Group for partnering with us...
Recognition of Cross-product Netting is Critical
US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...