FIA October 2020 SEF Tracker

Trading volume on SEFs reached $581.5 billion in average notional value per day during October 2020. Trading was down in every category.

Trading of interest rate swaps and other non-FRA rates products was $274.3 billion per day in October, down 25.3% from September 2020 and down 5% from October 2019. FRA trading reached $221.5 billion in average daily trading in October, down 9.3% from the previous month and down 13.4% from a year ago.

Credit default swap trading averaged $33.3 billion per day in October, down 43.2% from September and the lowest amount ever recorded for any October since 2017. Bloomberg’s market share increased to 73.7% while Tradeweb’s share decreased to 17.6%.

FX trading on SEFs reached $52.5 billion per day in October, a decrease of 6.5% from the previous month and a 2.9% decrease from October 2019. Tullett Prebon had the largest share of the trading volume, with 29.2%, followed by BGC with 22.4%.

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 SEF Tracker

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.