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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

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Interest rate risk in the banking book (IRRBB) has become a growing priority for banks and regulators in emerging market and developing economies (EMDEs). As many of these countries face monetary tightening cycles and ongoing macroeconomic volatility, bank balance sheets...

Response to CPMI-IOSCO on Consultation

On February 5, ISDA and FIA responded to the Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) consultation on the management of general business risks and general business losses by financial market infrastructures (FMIs)....