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The FIA recently discovered errors in the data published by one of the SEFs. The errors stem from currency conversions used by that SEF to determine the U.S. dollar values of certain interest rate products and foreign exchange products. After checking with the SEF, the FIA updated the trading volume data for that SEF going back to October 2017 and revised the data available in the FIA SEF Tracker. The FIA are also reissuing the January report, which you will find below. Please contact the FIA if you have any questions about these revisions. Total trading volume on SEFs averaged $808.5 billion in notional value per day during the month of January, up 75.2% from the previous month and up 48.9% from January 2017. Trading activity in both interest rate and foreign exchange products reached their highest level ever, rising to $724.01 billion and $58.01 billion respectively in average daily notional value traded in January. In the interest rate sector, the increase in trading volume was driven mainly by a rise in on-SEF trading of forward rate agreements, which was up 164.8% from December 2017 and up 44.2% from January 2017. Overview Dashboard: a high-level view of monthly volume trends and year-to-date SEF market share.
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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.
