The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives (IRD) traded notional and trade count increased in 2023 compared to the previous year, while index credit derivatives trading activity declined over the same period.
Key highlights for the full year 2023 include:
- IRD traded notional rose by 11.2% to $324.5 trillion in 2023 from $291.9 trillion in 2022. Trade count increased to 2.5 million from 2.3 million over the same period.
- Cleared IRD transactions comprised 78.2% of total IRD traded notional and 79.8% of total trade count.
- IRD transactions traded on swap execution facilities (SEFs) accounted for 54.1% of total IRD traded notional and 68.3% of trade count.
- Index credit derivatives traded notional dropped by 23.2% to $11.0 trillion in 2023 from $14.4 trillion in 2022. Trade count fell to 339.6 thousand from 398.4 thousand over the same period.
- Cleared index credit derivatives transactions accounted for 86.4% of total index credit derivatives traded notional and 89.7% of total trade count.
- SEF-traded index credit derivatives comprised 85.0% of total index credit derivatives traded notional and 88.6% of total trade count.
Click on the attached PDF to read the full report.
Documents (1) for SwapsInfo Full Year 2023 and the Fourth Quarter of 2023 Review
Latest
ISDA Market Practice Note for the Rebasing of European Inflation Indices
ISDA Market Practice Note for Rebasing of the: FRC - Excluding Tobacco-Non-Revised Consumer Price Index EUR - Excluding Tobacco-Non-revised Consumer Price Index ITL - Inflation for Blue Collar Workers and Employees-Excluding Tobacco Consumer Price Index SEK – Non-revised Consumer Price...
Guidance for EU IM Model Application for ISDA SIMM®
EU financial and non-financial EU counterparties exchanging IM based on ISDA SIMM® should have already submitted an initial application for authorisation to their competent authority (CA), and ECB if applicable. If not, they should do so timely to ensure continued...
Joint Response on Stress Testing Framework
On February 23, ISDA, the Bank Policy Institute, the American Bankers Association, the Financial Services Forum, the Securities Industry and Financial Markets Association and the US Chamber of Commerce jointly responded to the US Federal Reserve’s consultation on the stress...
Joint Letter on Italian 2026 Budget Law
On February 23, ISDA, the Association for Financial Markets in Europe and the International Securities Lending Association jointly sent a letter to the Italian tax authorities about changes to withholding tax on dividends made in the 2026 budget law, which...