The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives (IRD) traded notional and trade count declined in the first quarter of 2024 compared to the first quarter of 2023. Index credit derivatives trading activity also fell over the same period.

Key highlights for the first quarter of 2024 include:

• IRD traded notional fell by 3.8% to $100.5 trillion in the first quarter of 2024 from $104.5 trillion in the first quarter of 2023. Trade count dropped by 0.4% to 735.8 thousand from 739.0 thousand over the same period.
• Cleared IRD transactions comprised 75.3% of total IRD traded notional and 78.1% of total trade count.
• IRD transactions traded on swap execution facilities (SEFs) accounted for 57.3% of total IRD traded notional and 73.4% of trade count.
• Index credit derivatives traded notional dropped by 20.3% to $2.9 trillion in the first quarter of 2024 from $3.7 trillion in the first quarter of 2023. Trade count fell to 80.8 thousand from 106.8 thousand over the same period.
• Cleared index credit derivatives transactions accounted for 83.1% of total index credit derivatives traded notional and 87.7% of total trade count.
• SEF-traded index credit derivatives comprised 82.1% of total index credit derivatives traded notional and 86.7% of total trade count.

Click on the PDF below to read the full report.