Trading volume on swap execution facilities reached $1.28 trillion in average notional value per day during January 2022, the second highest level recorded after January 2021. This was up 131.6% from the previous month but down 5.9% from the same month of the previous year. Trading in every sector was up, which is typical in every January following December.
Trading of interest rate swaps and other non-FRA rates products was $760.7 billion per day in January, the second highest level of daily trading ever recorded in this sector after October 2021. This level was up 77.9% from December 2021 and up 29.8% from January 2021. FRA trading reached $395.8 billion in average daily trading in January. This amount of daily trading was up 907.5% from the previous month but down 41.2% from a year ago.
Credit default swap trading averaged $61.9 billion per day in January, the largest for any January. Bloomberg’s market share increased to 74.9% and Tradeweb’s share decreased to 13.8%.
FX trading on SEFs reached $61.2 billion per day in January, the second highest amount recorded for any January and an increase of 26.8% from the previous month. Tullett Prebon had the largest share of the trading volume with 29.6%. Tradition attained the second highest share with 22.6%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
