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 […]

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 rates swaps referencing IBORs and RFR indexes for quarter three (Q3) 2025 and the prior four quarters in all major currencies and regions. Key takeaways: […]

Clearing houses have published their latest CPMI-IOSCO Quantitative Disclosures for Q2 2025. Key takeaways 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 […]

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 […]