The latest ISDA SwapsInfo Quarterly Review shows that trading volume for interest rate derivatives (IRD) and credit derivatives increased in the first half of 2022 compared to the first half of 2021.
Key highlights for the first half of 2022 include:
- IRD traded notional increased by 29.4% to $156.7 trillion in the first half of 2022 from $121.1 trillion in the first half of 2021. Trade count rose by 17.1% to 1.2 million from 982.3 thousand over the same period.
- Cleared IRD transactions represented 74.4% of total IRD traded notional and 74.6% of trade count.
- IRD traded on swap execution facilities (SEFs) represented 58.1% of total IRD traded notional and 68.0% of trade count.
- Credit derivatives traded notional increased by 80.0% to $8.2 trillion in the first half of 2022 from $4.5 trillion in the first half of 2021. Trade count grew by 81.2% to 215.1 thousand from 118.7 thousand over the same period.
- Cleared credit derivatives transactions represented 83.0% of total traded notional and 87.5% of total trade count.
- SEF-traded credit derivatives accounted for 81.9% of total traded notional and 86.6% of trade count.
Click on the attached PDFs to read the summary and/or full report.
Documents (2) for SwapsInfo First Half of 2022 and the Second Quarter of 2022 Review
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...