FIA November 2019 SEF Tracker

Trading volume on SEFs reached $580.4 billion in average notional value per day during November 2019, the lowest level of trading so far this year. The decline in trading volume mainly took place in two sectors: forward rate agreements and credit default swaps.

Trading of interest rate swaps and other non-FRA rates products was $297.6 billion per day in November, up 3.1% from October 2019 but down 3.5% from November 2018. FRA trading reached $206.6 billion in average daily trading in November, down 19.3% from the previous month and down 4.5% from a year ago.

FX trading in November reached $55.4 billion in average daily notional value, down 3.3% from November 2018 but still the second highest amount recorded for any November.

Credit default swap trading averaged $20.8 billion per day in November, the lowest amount recorded for November since 2015.

Overview Dashboard: a high-level view of monthly volume trends and year-to-date SEF market share.

In-Depth Dashboard: a closer look at volume and market share information in each asset class.

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FIA publishes two other data products: the FCM Tracker, which provides insights on the financial condition of futures commission merchants in the U.S., 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.