The ISDA SwapsInfo Quarterly Review provides analysis of interest rate derivatives (IRD) and credit derivatives trading activity. The report provides a breakdown of cleared and non-cleared activity, swap execution facility (SEF) and off-SEF traded notional, product taxonomy and currency.

IRD and credit derivatives traded notional and trade count data is taken from the ISDA SwapsInfo website (swapsinfo.org), using information from the Depository Trust & Clearing Corporation and Bloomberg swap data repositories. This report covers only trades required to be disclosed under US regulations.

Key highlights for the full year 2019 include:

• IRD traded notional increased to $255.3 trillion from $236.6 trillion in 2018. Trade count grew to 1.5 million from 1.3 million over the same period.
• Cleared IRD transactions represented 88.9% of total traded notional compared with 88.1% in 2018.
• SEF-traded IRD represented 56.6% of total traded notional compared with 55.8% in 2018.
• Credit derivatives traded notional decreased to $8.4 trillion from $9.5 trillion in 2018. Trade count dropped to 231.2 thousand from 252.3 thousand over the same period.
• Cleared credit derivatives transactions represented 80.0% of total traded notional compared with 82.8% in 2018.
• SEF-traded credit derivatives represented 76.6% of total traded notional compared with 78.8% in 2018.

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