Trading volume on swap execution facilities reached $1.14 trillion in average notional value per day during July 2024. This was down 8.7% from the previous month but up 41.8% from the same month of the previous year. Compared to June 2024, trading was down in every category except the FRA sector.
Trading of interest rate swaps and other non-FRA rates products was $839.4 billion per day in July. This level was down 12.9% from June 2024 but up 55% from July 2023. Tradeweb had the largest share of trading volume with 58.6%. Tullett Prebon had the second highest share with 15.8%.
FRA trading reached $184.2 billion in average daily trading in July. This amount of daily trading was up 27% from the previous month and up 14.5% from a year ago.
Credit default swap trading averaged $42.5 billion per day in July. Bloomberg’s market share increased to 72.7% and Tradeweb’s share decreased to 19.5%.
FX trading on SEFs reached $70.2 billion per day in July, the highest level ever recorded for any July but a decrease of 16.2% from the previous month. Tullett Prebon had the largest share of the trading volume with 24.3%. BGC held the second highest share with 21.5%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
