Trading volume on SEFs reached $848.5 billion in average notional value per day during February 2020. Trading was up in every category except for in the forward rate agreement sector.
FX trading on SEFs reached a record $69.8 billion per day in February, an increase of 18.9% from the previous month and 22.6% from February 2019. Tullett Prebon had the largest share of the trading volume, with 30%, followed by BGC with 20.7%.
Trading of interest rate swaps and other non-FRA rates products was $438 billion per day in February, up 18.5% from January 2020 and up 26.6% from February 2019. FRA trading reached $284.9 billion in average daily trading in February, down 51.9% from the previous month and down 33.3% from a year ago.
Credit default swap trading averaged $56.7 billion per day in February, the highest amount for a non-roll month in two years. Tradeweb increased its share of the market to 26.7%, thanks to a company record of $15.1 billion per day in CDS transacted on its platform during February.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
