Trading volume on swap execution facilities reached $1.02 trillion in average notional value per day during December 2024. This was down 15.6% from the previous month but up 20.1% from the same month of the previous year. Compared to November 2024, trading was down in every category.
Trading of interest rate swaps and other non-FRA rates products was $814 billion per day in December. This level was down 10.1% from November 2024 but up 31.7% from December 2023. Tradeweb had the largest share of trading volume with 58.1%. Tullett Prebon had the second highest share with 14.1%.
FRA trading reached $99.9 billion in average daily trading in December. This amount of daily trading was down 43.5% from the previous month and down 30% from a year ago.
Credit default swap trading averaged $36.7 billion per day in December, a decrease of 24.9% from the previous month. Bloomberg’s market share decreased to 68.5% and Tradeweb’s share increased to 23%.
FX trading on SEFs reached $70.2 billion per day in December, the highest level ever recorded for any December but a decrease of 11.5% from the previous month. Tullett Prebon had the largest share of the trading volume with 23.9%. BGC held the second highest share with 23.2%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
