Trading volume on swap execution facilities reached $1.21 trillion in average notional value per day during November 2024. This was down 11.8% from the previous month and down 1.9% from the same month of the previous year. Compared to Otober 2024, trading was down in every category except for the FX sector.
Trading of interest rate swaps and other non-FRA rates products was $905.4 billion per day in November. This level was down 10.9% from October 2024 and down 5.5% from November 2023. Tradeweb had the largest share of trading volume with 58.7%. Tullett Prebon had the second highest share with 13.1%.
FRA trading reached $176.7 billion in average daily trading in November. This amount of daily trading was down 22.3% from the previous month but up 9.4% from a year ago.
Credit default swap trading averaged $48.8 billion per day in November, a decrease of 11.4% from the previous month. Bloomberg’s market share decreased to 69.3% and Tradeweb’s share increased to 22.1%.
FX trading on SEFs reached $79.3 billion per day in November, the highest level ever recorded for any November and an increase of 9.4% from the previous month. Tullett Prebon had the largest share of the trading volume with 25.5%. BGC held the second highest share with 23.9%.
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
