Trading volume on swap execution facilities reached $849.8 billion in average notional value per day during December 2023. This was down 31.1% from the previous month but up 13.5% from the same month of the previous year. Compared to November 2023, trading was down in every sector.
Trading of interest rate swaps and other non-FRA rates products was $618.2 billion per day in December. This level was down 35.5% from November 2023 but up 6.9% from December 2022. Tradeweb had the largest share of trading volume with 53.3%. Tullett Prebon had the second highest share with 14%.
FRA trading reached $142.6 billion in average daily trading in December. This amount of daily trading was down 11.7% from the previous month but up 59.3% from a year ago.
Credit default swap trading averaged a $28.5 billion per day in December. Bloomberg’s market share decreased to 68.6% and Tradeweb’s share increased to 21%.
FX trading on SEFs reached $60.5 billion per day in December, the highest level ever recorded for any December but a decrease of 14.9% from the previous month. Tullett Prebon had the largest share of the trading volume with 26.4%. BGC had the second highest share with 20.6%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
