A few weeks ago, I highlighted that the EUR swaps market is now larger in size than the USD swaps market (within a broader blog post on the BRL swaps market): LIBOR cessation is likely the main reason for this change in the relative size of EUR markets. EUR markets trade FRAs and Basis swaps […]

A review of Credit Derivatives (CRD) and FX Derivatives (FXD) volumes and market share at Clearing Houses (CCPs) in 3Q 2023. All the charts and detail from CCPView. Credit Derivatives Volume USD CDX, CDS and Swaptions Overall volumes in 2023Q3 at $3.35 trillion as compared to $3.75 trillion in 2022Q3. Market Share of USD CDX The […]

Amir and I have taken the bold decision to dip our toes into podcasts. For the foreseeable future, we will be giving you a verbal update on the blogs (and what doesn’t make the blogs) once a week. It gives us a chance to quiz each other (in the nicest possible way) about what we […]

I published an article on the ION Markets Blog, please read at Central Clearing of US Treasuries. It highlights a recent DTCC White Paper on Assessing a Potential Expansion of U.S. Treasury Central Clearing, which includes findings from a survey.