The latest ISDA SwapsInfo Quarterly Review shows that trading volumes for both interest rate derivatives (IRD) and credit derivatives decreased during the first half of 2021 compared to the first half of 2020.
Key highlights for the first half of 2021 include:
- IRD traded notional decreased by 16.0% to $121.0 trillion in the first half of 2021 from $144.0 trillion in the first half of 2020. Trade count grew by 9.8% to 981.0 thousand from 893.4 thousand over the same period.
- Cleared IRD transactions represented 75.7% of total traded notional and 71.5% of total trade count.
- IRD traded on a swap execution facility (SEF) represented 69.8% of total traded notional and 67.3% of total trade count.
- Credit derivatives traded notional decreased by 26.1% to $4.5 trillion in the first half of 2021 from $6.1 trillion in the first half of 2020. Trade count dropped by 29.8% to 118.7 thousand from 169.1 thousand over the same period.
- Cleared credit derivatives transactions represented 80.4% of total traded notional and 83.8% of total trade count.
- SEF-traded credit derivatives represented 80.1% of total traded notional and 83.5% of total trade count.
Click on the attached PDFs to read the full summary and/or full report.
Documents (2) for SwapsInfo First Half of 2021 and the Second Quarter of 2021 Review
Latest
US Treasury Repo Clearing Indicators May 2026
The ISDA-Actrix US Treasury Repo Market Clearing Indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, the key objective of the Securities...
ISDA, FIA, GFMA, CMC, CMCE Respond to IOSCO on Best Practices for OTC Commodity Derivatives
ISDA, FIA, the Global Financial Markets Association (GFMA), the Commodity Markets Council (CMC) and the Commodity Markets Council Europe (CMCE), have responded to the International Organization of Securities Commissions' (IOSCO) consultation report on best practices for over-the-counter (OTC) commodity derivatives...
Joint Response to 2026 US G-SIB Surcharge Proposal
On June 18, ISDA, the Securities Industry and Financial Markets Association and the Institute of International Finance submitted a joint response to US agencies on proposed changes to the surcharge for global systemically important banks (G-SIBs). The associations welcome the...
Eyeing the Basel III Finish Line
An effective regulatory capital framework relies on multiple ingredients, from appropriate drafting to rigorous testing and consultation. Even minor calibration distortions can inflate capital requirements, which could negatively affect the capacity of banks to support deep and liquid markets, with...