Trading volume on SEFs reached $823.7 billion in average notional value per day during April 2020. Trading was down in every category except in the forward rate agreement sector.
Trading of interest rate swaps and other non-FRA rates products was 320.3 billion per day in April, down 42.2% from March 2020 and down 15% from April 2019. FRA trading reached $413.3 billion in average daily trading in April, up 47.7% from the previous month and up 23.9% from a year ago.
Credit default swap trading averaged $39.2 billion per day in April, down 67.7% from March but the highest amount ever recorded in April. Bloomberg increased its market share to 78.5% while Tradeweb’s share decreased to 16.1%.
FX trading on SEFs reached $50.9 billion per day in April, a decrease of 30.6% from the previous month and 8.4% from April 2019. Tullett Prebon had the largest share of the trading volume, with 28.7%, followed by BGC with 23.5%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
