Following on from my blog, SEC Security-Based Swap Data Repositories Are Now Live, and now with 5 weeks of data published, I wanted to take a deeper look at the data for Credit Derivatives. CDS and TRS in USD Let’s start by looking at trades reported to the DTCC and ICE repositories by US persons […]

Derivatives transparency allows us to monitor the continuing activity in RUB markets. Interest Rate Swap activity in RUB spiked in response to the central bank action this week. And Russia is a component of the CDX.EM CDS index, where trading continues despite huge event risks. FX markets are a little more opaque, but we see […]

CDS index products are seeing unusually high trading activity. Inflation swaps have also seen significant volumes. These are two hot topics for market participants to monitor. Europe has also extended equivalence for non-European CCPs for another 3 years. There is now a consultation to understand which regulatory actions can most effectively move clearing activity to […]

A review of Credit Derivatives (CRD) volumes and market share at Clearing Houses (CCPs) in 2021. Index, Single-name and Swaptions Volumes in USD of $10 trillion, down 9% Volumes in EUR of €6.7 trillion or $8.5 trillion, flat on the year Index is 90% in USD and 94% in EUR Single-name is 9% in USD […]