This blog reviews 2025 volumes and market share of interest rate OTC derivatives reported by clearinghouses (CCPs). We focus on “core swaps” including cleared IRS, OIS, and basis swaps, using CCPView to filter and aggregate daily volumes and open interest data published by CCPs. Key takeaways On core swaps in 2025: Read on for the […]

This blog covers the volumes of FX derivatives (FXD) in December 2025, following on from our prior blog on September 2025 FXD volumes. Key takeaways Read on for more analysis and further explanation. All the charts and details in this blog were sourced from CCPView and SDRView. Cleared FXD volumes First, we look at cleared FXD […]

Clearing houses published in December their latest CPMI-IOSCO Quantitative Disclosures for Q3 2025. Key takeaways On 30 September 2025: Background Under the CPMI-IOSCO Public Quantitative Disclosures, central counterparties (CCPs) publish over 200 quantitative data fields covering margin, default resources, credit risk, collateral, liquidity risk, back-testing, and more. CCPView has more than 8 years of these […]

This blog looks at competition for trade volume in Q3 2025 between rates exchange-traded derivatives (ETD) exchanges and CCPs. Key takeaways: In Q3 2025, only two currency and product type combinations – EUR money-market (MM) futures and JPY MM futures – had material competition between CCPs. Read on for more details. Competition overview CCPView gives […]

In our quarterly blogs on cleared rates swap volumes, we review CCP market shares across all currencies. However, only a few currencies show meaningful competition between clearinghouses. This blog focuses on the competitive dynamic in those competitive currencies. Key takeaways: In Q3 2025, only four currencies – EUR, JPY, CNY, and INR had more than […]

Today we look at issuer names most actively traded based on CDS trades reported to US SEC Securities Based Swap Data Repositories (SBSDRs) in September 2025. Background The prior similar blog covered credit derivatives (CRD) for July 2025. Given the CDS-market peaks naturally in March and September, we will focus on those months going forward. […]

Today, we look at three recent start-ups or new products introduced by derivatives exchanges and clearinghouses (CCPs). Key takeaways:  All the charts, data, and statistics in this blog were sourced from CCPView.  FMX rates futures FMX is a fixed income e-trading platform focused on US Treasury bonds, FX, and repo owned by BGC. Recently, FMX launched the […]

This blog covers the volumes, of credit derivatives (CRD) in September 2025, as submitted to us by CCPs, and as reported to US SDRs and SBSDRs.  Key takeaways:  A year-on-year (YoY) comparison of notional volumes between September 2025 and September 2024 shows that:  All the charts, data, and statistics in this blog were sourced from CCPView and SDRView.  Cleared CRD volumes First, we look at cleared CRD by currency. Chart 1: All CRD […]