This blog reviews central counterparty (CCP) volumes and market share for cleared credit derivatives (CRD) and FX derivatives (FXD) in Q2 2025. For all-currency CRD, comparing Q2 2025 with Q2 2024, we see 45 percent volume increases, with indexes up 46 percent, single-names up 11 percent, and swaptions up 152 percent. Analyzing by currency shows that: […]

Clarus CCPView has daily volume and open interest (OI) data published by each CCP, which is filtered, normalized, and aggregated to allow meaningful volume comparisons. This blog looks at single-sided gross notional volume in vanilla cleared swaps referencing IBORs and RFR indexes for quarter two (Q2) 2025 and the prior four quarters in all major currencies and regions. This comprises: Read […]

Given that over a year has passed since CORRA cessation, I wanted to illustrate the transition using CCPView and SDRView volumes. So, I will bias the 2025 edition of this blog towards CDOR-CORRA volumes review, while briefly covering CAD derivatives volumes along the way. Last year’s edition of this blog is here and our prior […]

Clearing houses have published their latest CPMI-IOSCO Quantitative Disclosures for Q1 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 quarterly disclosures for 44 clearinghouses, each with multiple Clearing Services, covering […]

€STR futures Our €STR Dashboard summarizes key liquidity attributes in this growing market. Chart 1: €STR short-term interest rate futures dashboard. Source: Dashboard built using ClarusFT microservices connected to CCPView. The dashboard shows: In addition, CCPView provides longer-range time series, like the following on €STR futures OI. Chart 2: day-by-day €STR futures OI by CCP (notional […]

This blog covers the 2024 edition of the “ISDA Year-End Margin Survey”, published on 14 May 2025, which covers over-the-counter (OTC) derivatives uncleared initial margin (IM) and variation margin (VM) for all asset classes, and cleared IM for interest rate derivatives (IRD) and credit derivatives (CRD) only. We combine the ISDA survey data with more […]

This blog reviews the volumes and central counterparty (CCP) market share of cleared credit derivatives (CRD) and FX derivatives (FXD) in Q1 2025. Comparing Q1 2025 with Q1 2024, we see 44 percent overall volume increases in cleared CRD – index, single-name, and swaptions. Comparing Q1 2025 with Q1 2024, we see 31 percent overall volume […]

This blog looks at another year of AUD swaps activity, continuing from the blog with a similar title published at about the same time last year.  Should you want more information on AUD swaps, the blog linked above contains links to several other blogs on the topic. AUD market total size First, we extend the […]