BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2015 › »	Notional amounts outstanding				Gross market value
	H2 2013	H1 2014	H2 2014	H1 2015	H2 2013	H1 2014	H2 2014	H1 2015
Commodity contracts	2,469	2,463	2,103	1,877	270	275	325	243
By commodity
Gold	493	467	457	365	50	34	36	28
Other precious metal	70	102	73	67	8	8	8	7
Other commodities	1,905	1,895	1,574	1,444	213	233	280	207
By instrument & commodity
Forwards and swaps	1,634	1,642	1,367	1,235
Gold	306	292	269	236
Other precious metal	37	56	41	42
Other commodities	1,290	1,294	1,058	956
Total options	835	822	736	642
Gold	187	175	188	129
Other precious metal	33	46	32	25
Other commodities	615	601	516	488
Options sold (gross basis)	494	489	448	395
Gold	116	106	115	80
Other precious metal	21	29	20	16
Other commodities	356	354	313	299
Options bought (gross basis)	527	517	453	391
Gold	112	108	114	77
Other precious metal	19	27	20	15
Other commodities	396	381	319	298
Credit derivatives	21,526	19,954	16,846	14,987	660	641	601	459
Credit default swaps	21,142	19,581	16,507	14,689	656	637	596	455
By instrument
Single-name instruments	11,401	10,920	9,109	8,265	371	370	368	279
Multi-name instruments	9,741	8,661	7,398	6,424	285	267	228	176
Index products	8,746	7,939	6,747	5,909
By counterparty
Reporting dealers	11,119	9,604	7,775	6,554	370	314	291	212
Other financial institutions	9,830	9,769	8,530	7,924	277	313	297	235
Central counterparties	5,518	5,196	4,790	4,505	123	143	144	117
Banks and security firms	1,767	2,084	1,386	1,262	54	71	47	37
Insurance firms	214	202	220	182	7	7	7	6
SPVs, SPCs and SPEs	363	271	219	186	16	15	12	10
Hedge funds	1,034	1,112	814	788	44	45	42	31
Other financial customers	934	904	1,100	1,002	33	33	44	35
Non-financial customers	193	208	202	211	9	10	8	8
By rating category
Investment grade	13,205	12,606	9,741	9,319
Non-investment grade	4,867	4,223	3,599	3,252
Non-rated	2,948	2,634	3,059	2,024
By maturity
Up to 1 year	3,655	3,718	3,010	2,426
Between 1 and 5 years	16,162	14,491	12,367	10,944
Over 5 years	1,203	1,252	1,022	1,224
By sector
Sovereigns	2,652	2,704	2,484	2,298
Financial firms	5,709	5,000	3,962	3,259
Non-financial firms	7,230	6,539	5,624	5,275
Securitised products	565	480	227	213
Multiple sectors	4,879	4,756	4,117	3,564
By location of counterparty
Home country	4,091	3,734	3,422	3,509
Abroad	16,929	15,728	12,976	11,085
United States	4,486	4,014	3,412	3,159
European developed countries	10,871	10,173	8,205	6,782
Japan	162	151	117	116
Other Asian countries	170	148	127	100
Latin America	780	785	686	607
All other countries	461	458	430	320
Other derivatives	80	77	70	62	20	19	22	17
Gross credit exposure					3,033	2,826	3,355	2,870