Have you seen the BIS Triennial Survey 2022?
Trading shrank by about 20% to $5.2Trn per day in Interest Rate Derivatives from April 2019 to 2022. Transition to RFRs has resulted in a $1.4Trn reduction in daily activity in FRAs alone, explaining much of the decline. The BIS survey occurred when markets were likely experiencing a degree of heightened activity, although Clarus data … Continue reading Have you seen the BIS Triennial Survey 2022?
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