FIA: February 2022 SEF Tracker

Trading volume on swap execution facilities reached $1.04 trillion in average notional value per day during February 2022. This was down 18.7% from the previous month and down 4% from the same month of the previous year. Trading was up in the credit and FX sectors, but down in the interest rate sector.

Trading of interest rate swaps and other non-FRA rates products was $741.8 billion per day in February, the third highest level of daily trading ever recorded in this sector. This level was down 2.5% from January 2022 but up 36.9% from February 2021. FRA trading reached $159.3 billion in average daily trading in February. This amount of daily trading was down 59.8% from the previous month and down 63.6% from a year ago.

Credit default swap trading averaged $75.3 billion per day in February, the largest for any February. Bloomberg’s market share decreased to 71% and Tradeweb’s share increased to 17.1%.

FX trading on SEFs reached $63.9 billion per day in February, the third highest amount recorded for any February and an increase of 4.4% from the previous month. Tullett Prebon had the largest share of the trading volume with 31.5%. BGC attained the second highest share with 21.1%.

Please contact ourhelp deskif you have any questions about this service.

Overview: Recent trading activity for interest rate derivatives, credit default derivatives and foreign exchange derivatives on swap execution facilities in the US.

Comparison Table: Monthly data on trading activity at each swap execution facility, with separate tables for interest rate derivatives, credit default derivatives, and foreign exchange derivatives.

Historical Volume: Monthly volume on SEFs in three asset classes: interest rates, credit and foreign exchange as well as ranking of volume by asset class and ranking of SEFs by volume.

Rates Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by currency, volume for each SEF and market share for each SEF.

Credit Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by index name, volume for each SEF and market share for each SEF.

FX Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by quote currency, volume for each SEF and market share for each SEF.

FIA publishes three other data products: the FCM Tracker, which provides insights on the financial condition of futures commission merchants in the US; the CCP Tracker, which provides quarterly data on risk exposures at derivatives clearinghouses; and, a monthly report on exchange-traded derivatives volume and open interest. FIA provides these data products as a service to its members and as part of its mission to promote better understanding of the global derivatives markets.