IRD and CDS Weekly Analysis: week ending April 24, 2015

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Interest Rates Derivatives

2015 year-to-date vs. 2014 year-to-date

  • Overall interest rate notionals were down 14%, while trade counts increased 11%
  • Cleared notionals were down 19%, while trade counts were up 4%
  • SEF notionals were down 9%, while trade counts were up 15%
  • 73% of total notional was cleared vs. 78%
  • 55% of total notional was executed On SEF vs. 52%

2015 current week vs. 2014 current week

  • Both overall interest rate notionals and trade counts were up 33% and 46% respectively
  • Both cleared notionals and trade counts were up 31% and 51% respectively
  • Both SEF notionals and trade counts were up 27% and 55% respectively
  • 76% of total notional was cleared vs. 77%
  • 62% of total notional was executed On SEF vs. 65%

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Credit Default Swaps

2015 year-to-date vs. 2014 year-to-date

  • Overall CDS notionals were down 9%, while trade counts were up 2%
  • Both cleared notionals and trade counts were up 12% and 23% respectively
  • Both SEF notionals and trade counts were up 31% and 38% respectively
  • 80% of total notional was cleared vs. 65%
  • 70% of total notional was executed On SEF vs. 49%

2015 current week vs. 2014 current week

  • Overall CDS notionals were down 9%, while trade counts were up 24%
  • Cleared notionals were down 7%, while trade counts were up 29%
  • SEF notionals were down 5%, while trade counts increased 29%
  • 77% of total notional was cleared vs. 75%
  • 65% of total notional was executed On SEF vs. 63%