The latest ISDA SwapsInfo Quarterly Review shows that trading volumes for both interest rate derivatives (IRD) and credit derivatives decreased during the first quarter of 2021 compared to the first quarter of 2020.

Key highlights for the first quarter of 2021 include:

• IRD traded notional decreased by 18.3% to $71.2 trillion in the first quarter of 2021 from $87.2 trillion in the first quarter of 2020. Trade count grew by 14.0% to 549.6 thousand from 482.1 thousand over the same period.
• Cleared IRD transactions comprised 75.1% of total traded notional and 70.9% of total trade count.
• IRD traded on swap execution facilities (SEFs) represented 68.7% of total traded notional and 66.9% of total trade count.
• Credit derivatives traded notional decreased by 32.9% to $2.6 trillion in the first quarter of 2021 from $3.9 trillion in the first quarter of 2020. Trade count fell by 32.0% to 69.7 thousand from 102.4 thousand over the same period.
• Cleared credit derivatives transactions represented 81.8% of total traded notional and 84.5% of total trade count.
• SEF-traded credit derivatives represented 81.5% of total traded notional and 84.3% of total trade count.

Click on the attached PDFs to read the summary and/or full report.