BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2015 › »	Notional amounts outstanding				Gross market value
	H1 2014	H2 2014	H1 2015	H2 2015	H1 2014	H2 2014	H1 2015	H2 2015
Commodity contracts	2,463	2,103	1,877	1,504	275	325	243	302
By commodity
Gold	467	457	365	391	34	36	28	77
Other precious metal	102	73	67	57	8	8	7	7
Other commodities	1,895	1,574	1,444	1,055	233	280	207	218
By instrument & commodity
Forwards and swaps	1,642	1,367	1,235	1,007
Gold	292	269	236	250
Other precious metal	56	41	42	36
Other commodities	1,294	1,058	956	722
Total options	822	736	642	496
Gold	175	188	129	142
Other precious metal	46	32	25	21
Other commodities	601	516	488	333
Options sold (gross basis)	489	448	395	293
Gold	106	115	80	76
Other precious metal	29	20	16	13
Other commodities	354	313	299	203
Options bought (gross basis)	517	453	391	314
Gold	108	114	77	97
Other precious metal	27	20	15	13
Other commodities	381	319	298	204
Credit derivatives	19,954	16,846	14,987	12,644	641	601	459	427
Credit default swaps	19,581	16,507	14,689	12,379	637	596	455	423
By instrument
Single-name instruments	10,920	9,109	8,265	7,237	370	368	279	286
Multi-name instruments	8,661	7,398	6,424	5,142	267	228	176	138
Index products	7,939	6,747	5,909	4,737
By counterparty
Reporting dealers	9,604	7,775	6,554	5,497	314	291	212	196
Other financial institutions	9,769	8,530	7,924	6,688	313	297	235	220
Central counterparties	5,196	4,790	4,505	4,185	143	144	117	117
Banks and security firms	2,084	1,386	1,262	883	71	47	37	27
Insurance firms	202	220	182	166	7	7	6	6
SPVs, SPCs and SPEs	271	219	186	170	15	12	10	8
Hedge funds	1,112	814	788	616	45	42	31	35
Other financial customers	904	1,100	1,002	667	33	44	35	28
Non-financial customers	208	202	211	194	10	8	8	8
By rating category
Investment grade	12,606	9,741	9,319	7,975
Non-investment grade	4,223	3,599	3,252	2,228
Non-rated	2,634	3,059	2,024	2,091
By maturity
Up to 1 year	3,718	3,010	2,426	2,689
Between 1 and 5 years	14,491	12,367	10,944	8,778
Over 5 years	1,252	1,022	1,224	827
By sector
Sovereigns	2,704	2,484	2,298	2,014
Financial firms	5,000	3,962	3,259	2,625
Non-financial firms	6,539	5,624	5,275	4,290
Securitised products	480	227	213	225
Multiple sectors	4,756	4,117	3,564	3,152
By location of counterparty
Home country	3,734	3,422	3,509	2,894
Abroad	15,728	12,976	11,085	9,400
United States	4,014	3,412	3,159	2,575
European developed countries	10,173	8,205	6,782	5,718
Japan	151	117	116	137
Other Asian countries	148	127	100	102
Latin America	785	686	607	460
All other countries	458	430	320	407
Other derivatives	77	70	62	55	19	22	17	16
Gross credit exposure					2,826	3,355	2,870	2,862