Trading volume on SEFs reached $597.5 billion in average notional value per day during July 2020. Trading was down in every category.
Trading of interest rate swaps and other non-FRA rates products was $232.9 billion per day in July, down 34.3% from June 2020 and down 45.8% from July 2019. FRA trading reached $296 billion in average daily trading in July, down 11.7% from the previous month and down 6.8% from a year ago.
Credit default swap trading averaged $17.8 billion per day in July, down 52.7% from June and the lowest amount ever recorded for any July. Bloomberg’s market share decreased to 69.4% while Tradeweb’s share increased to 22.2%.
FX trading on SEFs reached $50.8 billion per day in July, a decrease of 8.5% from the previous month and a 9.1% decrease from July 2019. Tullett Prebon had the largest share of the trading volume, with 30.9%, followed by BGC with 22.3%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
