At the end of March, clearing houses published their Q1 2026 CPMI-IOSCO Quantitative Disclosures. This blog focuses on cleared IM for rates swaps, credit derivatives (CRD) and exchange-traded derivatives (ETD) together with a sample of the other disclosures. Key takeaways 31 March 2026 saw a new record in CCP-disclosed cleared IM for each of the three […]

This blog looks at Q1 2026 volumes of US-reported compression of cleared “core” rate swaps (meaning OIS, fixed float IRS, and basis swaps). Key takeaways Scope and background This blog continues our coverage of US-reported rates swap compression volumes after 2025 SDR-reported IR compression and before that H1 2025 SDR-reported IR compression and 2024 US […]

Capitolis has launched multilateral FX initial margin optimization (IMO) runs, taking on the long-standing FX IMO services of LSEG and OSTTRA. Word of the launch came in while I was working on this update on Clarus volumes related to FX IMO. The successful entrance of new vendors always adds interesting new angles to this type […]

This blog covers credit derivatives (CRD) trading volumes in March 2026, both at CCPs and as reported in the US. We sourced the charts and statistics from CCPView, SDRView and SBSDRView. Key takeaways Notes on CRD volumes We focus on the months of March and September because the standardized CRD maturity dates on the two months’ […]