This paper highlights the changes in over-the-counter (OTC) interest rate derivatives (IRD) markets from 2019 to 2022, using the data from the Bank for International Settlements Triennial Central Bank Survey.
Turnover of global OTC IRD fell by 18.8% in April 2022 versus the previous survey in April 2019 due to a significant decline in US dollar-denominated forward rate agreements. Turnover of euro-denominated contracts grew by 10.4% over the same period.
The UK remained the largest global center for IRD trading, even though the share of global turnover reported by sales desks located in the UK dropped in April 2022 versus the previous survey. Sales desks in the EU reported a higher share of euro-denominated IRD turnover in April 2022 than in April 2019.
Documents (1) for Insights into Global OTC IRD Markets Based on the 2022 BIS Triennial Central Bank Survey
Latest
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.
ISDA/IIF Responds to the PRA Consultation
On July 30th, ISDA and IIF responded to the PRA consultation (CP10/25) on enhancing banks’ and insurers’ approaches to managing climate-related risks, which proposes updates to the Supervisory Statement 3/19 on climate-related risk management for banks and insurers. ISDA and...
ISDA Board Appoints New Chair
ISDA has announced that its Board of Directors has elected Amy Hong as its new Chair. Ms. Hong is Head of Strategy, Investments and Partnerships in the Global Banking & Markets division at Goldman Sachs, responsible for leading strategic initiatives...
Response on Scope of BMR
On July 28, ISDA and the Global Foreign Exchange Division of the Global Financial Markets Association responded to the European Commission’s (EC) consultation on the need to exempt spot foreign exchange (FX) benchmarks under Article 18a of the EU Benchmarks...