BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2018 › »	Notional amounts outstanding				Gross market value
	H2 2016	H1 2017	H2 2017	H1 2018	H2 2016	H1 2017	H2 2017	H1 2018
Commodity contracts	1,671	1,762	1,862	2,133	204	171	189	207
By commodity
Gold	495	535	520	568	34	23	21	23
Other precious metal	59	75	53	70	5	4	3	4
Other commodities	1,117	1,152	1,288	1,495	166	144	164	180
By instrument & commodity
Forwards and swaps	1,249	1,352	1,414	1,627
Gold	351	395	381	419
Other precious metal	40	58	40	54
Other commodities	859	900	993	1,153
Total options	422	410	447	506
Gold	145	141	139	149
Other precious metal	19	17	14	15
Other commodities	259	253	294	342
Options sold (gross basis)	257	254	275	313
Gold	88	83	85	87
Other precious metal	12	11	8	9
Other commodities	157	160	182	218
Options bought (gross basis)	259	248	272	305
Gold	89	89	85	95
Other precious metal	11	10	9	10
Other commodities	159	149	178	200
Credit derivatives	10,103	9,967	9,578	8,581	301	307	313	238
Credit default swaps	9,931	9,727	9,354	8,345	295	300	304	232
By instrument
Single-name instruments	5,635	5,101	4,570	4,145	168	152	130	118
Multi-name instruments	4,295	4,626	4,784	4,200	127	148	174	115
Index products	3,840	4,229	4,442	4,007
By counterparty
Reporting dealers	3,760	2,971	2,321	1,999	114	89	68	57
Other financial institutions	6,018	6,597	6,817	6,110	175	206	227	171
Central counterparties	4,339	4,912	5,136	4,519	110	142	164	118
Banks and security firms	452	426	487	406	13	12	14	11
Insurance firms	165	143	124	125	7	6	6	5
SPVs, SPCs and SPEs	96	90	76	56	5	4	4	3
Hedge funds	440	435	375	381	23	21	19	17
Other financial customers	525	590	618	624	18	20	21	18
Non-financial customers	153	159	216	236	5	6	9	5
By rating category
Investment grade	6,467	6,260	6,008	5,321
Non-investment grade	2,026	2,156	2,049	1,857
Non-rated	1,364	1,229	1,216	1,077
By maturity
Up to 1 year	2,672	2,513	1,882	1,404
Between 1 and 5 years	6,455	6,404	6,629	6,076
Over 5 years	731	727	763	775
By sector
Sovereigns	1,746	1,673	1,530	1,458
Financial firms	1,804	1,674	1,544	1,433
Non-financial firms	3,181	2,660	2,406	2,104
Securitised products	305	293	371	382
Multiple sectors	2,852	3,380	3,456	2,916
By location of counterparty
Home country	2,517	2,380	2,222	2,063
Abroad	7,340	7,265	7,051	6,192
United States	2,166	2,205	2,187	1,737
European developed countries	4,372	4,278	4,131	3,701
Japan	100	95	79	75
Other Asian countries	83	81	75	78
Latin America	344	323	313	327
All other countries	276	282	267	273
Other derivatives	100	112	137	164	6	9	8	9
Gross credit exposure					3,296	2,770	2,683	2,570