Background Several points are listed here for convenience. Feel free to skip to the next section now and refer to them later. According to the ISDA margin survey, uncleared SIMM IM collected exceeded $350 billion at the end of 2024, a large slice of which is incurred by rates derivatives portfolios. Capitolis kindly confirmed that […]

This blog follows the recent pattern of intra-year SOFR swaps SEF volumes blogs to complement the full-year reviews in 2023 and 2024. Given recent market dynamics, I was curious about the activity levels so far in 2025. Please note: SDRView includes MTFs and OTFs as well as SEFs in its platform scope.  For brevity, we […]

This post looks at USD swaptions activity in Q1 as part of our regular quarterly coverage, the last of which was Swaption Volumes by Strike Q4 2024. Swaptions basics If you are uninitiated in swaptions, here are some basics: Now, on to the post. Swap market context Q1 2025 saw the following daily price moves […]

After about a year since our last blog on this topic, it is high time for another look at the most active names in CDS, using data reported to US SEC Securities Based Data Repositories (SBSDRs). CDS on sovereigns Using SBSDRView, we can find the most active sovereign CDS trades in April 2025, starting with USD activity. Table 1 – […]