BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2016 › »	Notional amounts outstanding				Gross market value
	H2 2014	H1 2015	H2 2015	H1 2016	H2 2014	H1 2015	H2 2015	H1 2016
Commodity contracts	2,103	1,877	1,504	1,770	325	243	302	246
By commodity
Gold	457	365	391	509	36	28	77	34
Other precious metal	73	67	57	70	8	7	7	7
Other commodities	1,574	1,444	1,055	1,191	280	207	218	206
By instrument & commodity
Forwards and swaps	1,367	1,235	1,007	1,297
Gold	269	236	250	361
Other precious metal	41	42	36	49
Other commodities	1,058	956	722	887
Total options	736	642	496	474
Gold	188	129	142	149
Other precious metal	32	25	21	22
Other commodities	516	488	333	303
Options sold (gross basis)	448	395	293	293
Gold	115	80	76	90
Other precious metal	20	16	13	13
Other commodities	313	299	203	190
Options bought (gross basis)	453	391	314	286
Gold	114	77	97	92
Other precious metal	20	15	13	13
Other commodities	319	298	204	181
Credit derivatives	16,846	14,987	12,644	11,994	601	459	427	350
Credit default swaps	16,507	14,689	12,379	11,847	596	455	423	346
By instrument
Single-name instruments	9,109	8,265	7,237	6,639	368	279	286	218
Multi-name instruments	7,398	6,424	5,142	5,208	228	176	138	128
Index products	6,747	5,909	4,737	4,836
By counterparty
Reporting dealers	7,775	6,554	5,497	5,117	291	212	196	155
Other financial institutions	8,530	7,924	6,688	6,573	297	235	220	185
Central counterparties	4,790	4,505	4,185	4,392	144	117	117	102
Banks and security firms	1,386	1,262	883	669	47	37	27	18
Insurance firms	220	182	166	173	7	6	6	8
SPVs, SPCs and SPEs	219	186	170	153	12	10	8	6
Hedge funds	814	788	616	548	42	31	35	28
Other financial customers	1,100	1,002	667	637	44	35	28	22
Non-financial customers	202	211	194	158	8	8	8	6
By rating category
Investment grade	9,741	9,319	7,975	8,087
Non-investment grade	3,599	3,252	2,228	2,090
Non-rated	3,059	2,024	2,091	1,586
By maturity
Up to 1 year	3,010	2,426	2,689	2,800
Between 1 and 5 years	12,367	10,944	8,778	8,195
Over 5 years	1,022	1,224	827	768
By sector
Sovereigns	2,484	2,298	2,014	1,902
Financial firms	3,962	3,259	2,625	2,171
Non-financial firms	5,624	5,275	4,290	4,035
Securitised products	227	213	225	220
Multiple sectors	4,117	3,564	3,152	3,471
By location of counterparty
Home country	3,422	3,509	2,894	2,891
Abroad	12,976	11,085	9,400	8,872
United States	3,412	3,159	2,575	2,449
European developed countries	8,205	6,782	5,718	5,470
Japan	117	116	137	134
Other Asian countries	127	100	102	107
Latin America	686	607	460	326
All other countries	430	320	407	386
Other derivatives	70	62	55	89	22	17	16	6
Gross credit exposure					3,355	2,870	2,862	3,697