Trading volume on swap execution facilities reached $1.17 trillion in average notional value per day during August 2024. This was up 3% from the previous month and up 22.6% from the same month of the previous year. Compared to July 2024, trading was up in every category except the FRA sector.
Trading of interest rate swaps and other non-FRA rates products was $893 billion per day in August. This level was up 6.4% from July 2024 and up 25.8% from August 2023. Tradeweb had the largest share of trading volume with 62.9%. Tullett Prebon had the second highest share with 11.4%.
FRA trading reached $137.9 billion in average daily trading in August. This amount of daily trading was down 25.2% from the previous month and down 3.3% from a year ago.
Credit default swap trading averaged $64.6 billion per day in August. Bloomberg’s market share decreased to 68.8% and Tradeweb’s share increased to 24%.
FX trading on SEFs reached $75.3 billion per day in August, the highest level ever recorded for any August and an increase of 7.2% from the previous month. Tullett Prebon had the largest share of the trading volume with 25.1%. BGC held the second highest share with 20.9%
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
