Clarus CCPView has daily volume data published by each CCP, which is filtered, normalised and aggregated to allow meaningful comparison of market share statistics.
- LCH ForexClear has > 95% in NDF
Onto the charts, data and details.
IRD Market Share
LCH SwapClear with 91.6% average share in the year and CME with 8.4% and no obvious change over the year.
Four CCPs with volume, LCH SwapClear dominant with 98.4%, CME and Eurex each with 0.8%, with CME slightly down over the year and Eurex slightly up. BME also with volume <0.1%.
JSCC with 53.5% and LCH SwapClear with 46.1% with JSCC higher in nine out of 12 months and LCH higher in 3 out of 12 months, while CME has 0.4%.
LCH SwapClear with 86.2%, trending higher after Q1, ASX averaging 13.6% and CME 0.1%.
CAD and GBP Swaps
In CAD LCH SwapClear has > 98% and in GBP > 99%, so will dispense with the charts.
CME with 98.3%, Asigna/Mexder with 1.2% and LCH SwapClear 0.6%
LCH SwapClear with 65.6%, Shanghai with 31.4% (CNY), SGX 1.2%, CME 0.9%, CCIL 0.6%, HKEx 0.3%.
LCH SwapClear with 96.3%, Nasdaq OMX with 1.6%, CME with 1.4%, Eurex with 0.4% and KDPW with 0.3%
CRD Market Share
Next turning to Credit markets and CDX and CDS.
ICE Clear Credit with 93.4% and CME with 6.6% as it winds down this business.
ICE Clear Credit with 92% and ICE Clear Europe with 8% (from Sovereign CDS).
ICE Clear Credit with 61.2%, ICE Clear Europe with 29.2% and LCH CDS Clear with 9.5%. LCH CDSClear was up in May, June and July, but then back down in subsequent months.
Much more variability in monthly market share with ICE Clear Europe with 59.4%, LCH CDS Clear with 20.9% and ICE Clear Credit with 19.7%.
JPY iTraxx and CDS
In JPY, 100% of the volume is at JSCC, so we will dispense with the charts.
FXD Market Share
Next Non-Deliverable Forwards.
LCH ForexClear with 95.7% and Comder with 4.3%.
There is no FX Options cleared volume yet.
Both CME and LCH have announced this.
We will be keeping an eye out for how volumes develop.