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’ […]

This blog gives an update on swap clearing broker concentration risk and asks whether the recent increase in the number of swap FCMs heralds an improvement. Key takeaways At the end of Q1 2025: Introduction Whilst client-cleared financial futures have been around a lot longer, client-cleared swaps started at LCH SwapClear in December 2009, about […]