ISDA has expanded its SwapsInfo derivatives database and website to include European credit default swaps (CDS) trading activity, creating a more comprehensive picture of derivatives trading in the EU, UK and US.
The new data includes EU and UK index and single-name CDS traded notional and trade count, based on transactions publicly reported by 18 European approved publication arrangements (APAs) and trading venues (TVs). This complements existing data on US index and single-name CDS and European and US interest rate derivatives (IRD).
Based on analysis of the data between the second half of 2021 and the end of 2024, about 70%-80% of CDS traded notional in Europe was reported in the UK, with the EU accounting for 20%-30%. Globally, approximately 30% of total CDS trading was reported in the UK, the EU made up about 10% and the US comprised 50%-60%. Index CDS represented more than 90% of credit derivatives traded notional reported in Europe, while single-name CDS accounted for less than 10%.
“The addition of European CDS data means the SwapsInfo platform now provides a wide range of data and analytics on EU, UK and US derivatives trading activity, bringing greater transparency to derivatives markets. We’ll continue to look at how we can further improve and expand the platform to give users as comprehensive a view as possible of derivatives trading activity,” said Olga Roman, Head of Research at ISDA.
EU and UK IRD and CDS trading activity is based on transactions publicly reported by European APAs and TVs. US trading data for IRD is sourced from the Depository Trust & Clearing Corporation’s (DTCC) swap data repository (SDR). US credit derivatives data includes index credit derivatives transactions reported to the DTCC SDR under Commodity Futures Trading Commission regulations and security-based credit derivatives reported to the DTCC’s security-based swap data repository and ICE Trade Vault under Securities and Exchange Commission requirements.
The ISDA SwapsInfo website is available at www.swapsinfo.org.
ISDA has published a paper that analyzes European CDS trading activity between the second half of 2021 and the end of 2024. Read it here.
For Press Queries, Please Contact:
Nick Sawyer, ISDA London, +44 20 3808 9740, nsawyer@isda.org
Joel Clark, ISDA London, +44 20 3808 9760, jclark@isda.org
Christopher Faimali, ISDA London, +44 20 3808 9736, CFaimali@isda.org
Nikki Lu, ISDA Hong Kong, +852 2200 5901, nlu@isda.org
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