Check out the latest research papers ISDA Survey on OTC Derivatives in Emerging and Developing Markets and ISDA-Clarus RFR Adoption Indicator: June 2023.
Please note the section on IRD benchmark data analysis has been discontinued as the USD LIBOR panel ceased on June 30, 2023.
Interest Rate Derivatives
2023 YTD vs. 2022 YTD
- Total IRD traded notional and trade count increased by 16% and 18%, respectively
- Fixed-for-floating IRS traded notional and trade count decreased by 42% and 6%, respectively
- FRA traded notional and trade count increased by 6% and 4%, respectively
- OIS traded notional and trade count increased by 58% and 50%, respectively
- 77% of total traded notional was cleared vs. 75% last year
- 52% of total traded notional was executed on SEFs vs. 59% last year
2023 Current Week vs. 2022 Current Week
Credit Derivatives Reported under CFTC Regulations
2023 YTD vs. 2022 YTD
- Total index credit derivatives traded notional and trade count decreased by 29% and 17%, respectively
- CDX HY traded notional and trade count decreased by 23% and 14%, respectively
- CDX IG traded notional and trade count decreased by 25% and 15%, respectively
- iTraxx Europe traded notional and trade count decreased by 32% and 11%, respectively
- 86% of total traded notional was cleared vs. 83% last year
- 84% of total traded notional was executed on SEFs vs. 82% last year
2023 Current Week vs. 2022 Current Week
Credit Derivatives Reported under SEC Regulations
YTD Ending July 14, 2023
- Total security-based credit derivatives traded notional totaled $401.0 billion, while trade count totaled 128.7 thousand
- Corporate single-name CDS traded notional totaled $306.0 billion, and trade count was 99.8 thousand
- Sovereign single-name CDS traded notional totaled $76.6 billion, and trade count was 19.4 thousand
- 50% of total traded notional was cleared
