The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives (IRD) traded notional and trade count increased in the first half of 2024 compared to the first half of 2023, while index credit derivatives trading activity declined over the same period.

Key highlights for the first half of 2024 include:

• IRD traded notional rose by 9.5% to $197.8 trillion in the first half of 2024 from $180.6 trillion in the first half of 2023. Trade count grew by 10.9% to 1.5 million from 1.4 million over the same period.
• Cleared IRD transactions made up 74.0% of total IRD traded notional and 76.8% of trade count.
• IRD transactions executed on swap execution facilities (SEFs) accounted for 58.2% of total IRD traded notional and 72.3% of trade count.
• Index credit derivatives traded notional declined by 2.3% to $5.8 trillion in the first half of 2024 from $5.9 trillion in the first half of 2023. Trade count fell by 11.5% to 160.6 thousand from 181.4 thousand over the same period.
• Cleared index credit derivatives transactions comprised 82.6% of total index credit derivatives traded notional and 87.8% of trade count.
• SEF-traded index credit derivatives accounted for 81.8% of total index credit derivatives traded notional and 86.8% of trade count.

Click on the attached PDF to read the full report.