FIA November 2020 SEF Tracker

Trading volume on SEFs reached $553.4 billion in average notional value per day during November 2020. Trading was down in every category except non-FRA and FX trading.

Trading of interest rate swaps and other non-FRA rates products was $308.5 billion per day in November, up 12.5% from October 2020 and up 3.7% from November 2019. FRA trading reached $159.2 billion in average daily trading in November, down 28.1% from the previous month and down 22.9% from a year ago.

Credit default swap trading averaged $30.1 billion per day in November, down 9.5% from October but the second highest amount ever recorded for any November. Bloomberg’s market share decreased to 72.1% while Tradeweb’s share increased to 21.3%.

FX trading on SEFs reached $55.5 billion per day in November, an increase of 5.7% from the previous month and a 0.2% increase from November 2019. Tullett Prebon had the largest share of the trading volume, with 28.2%, followed by BGC with 23.5%.

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.