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SwapsInfo Full Year 2025 and the Fourth Quarter of 2025 Review
Interest Rate Derivatives
2026 YTD vs. 2025 YTD
- Total IRD traded notional and trade count increased by 24.7% and 27.6%, respectively
- YTD 2026, 74.2% of OIS traded notional had tenors up to and including one year, 17.3% between one and five years, and 8.5% over five years
- YTD 2026, 46.7% of fixed-for-floating IRS traded notional had tenors up to and including one year, 33.4% between one and five years, and 20.0% over five years
- 86.7% of total traded notional was cleared vs. 87.4% last year
- 56.5% of total traded notional was executed on SEFs vs. 55.2% with last year
2026 Current Week vs. 2025 Current Week
Credit Derivatives Reported under CFTC Regulations
2026 YTD vs. 2025 YTD
- Total index credit derivatives traded notional and trade count increased by 25.9% and 5.4%, respectively
- CDX HY traded notional and trade count increased by 14.1% and 6.0%, respectively
- CDX IG traded notional and trade count increased by 46.8% and 23.0%, respectively
- iTraxx Europe traded notional increased by 3.4%, while trade count decreased by 7.3%
- 75.9% of total traded notional was cleared vs. 77.5% last year
- 73.4% of total traded notional was executed on SEFs vs. 74.8% last year
2026 Current Week vs. 2025 Current Week
Credit Derivatives Reported under SEC Regulations
2026 YTD vs. 2025 YTD
- Total security-based credit derivatives traded notional and trade count decreased by 4.2% and 7.5%, respectively
- Corporate single-name CDS traded notional and trade count decreased by 6.4% and 9.6%, respectively
- Sovereign single-name CDS traded notional and trade count decreased by 2.0% and 6.9%, respectively
- 62.4% of total traded notional was cleared vs. 63.7% last year
2026 Current Week vs. 2025 Current Week
