BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2018 › »	Notional amounts outstanding				Gross market value
	H1 2017	H2 2017	H1 2018	H2 2018	H1 2017	H2 2017	H1 2018	H2 2018
Commodity contracts	1,762	1,862	2,133	1,903	171	189	207	220
By commodity
Gold	535	520	568	518	23	21	23	21
Other precious metal	75	53	70	65	4	3	4	4
Other commodities	1,152	1,288	1,495	1,320	144	164	180	195
By instrument & commodity
Forwards and swaps	1,352	1,414	1,627	1,455
Gold	395	381	419	381
Other precious metal	58	40	54	48
Other commodities	900	993	1,153	1,026
Total options	410	447	506	449
Gold	141	139	149	137
Other precious metal	17	14	15	17
Other commodities	253	294	342	294
Options sold (gross basis)	254	275	313	287
Gold	83	85	87	81
Other precious metal	11	8	9	10
Other commodities	160	182	218	197
Options bought (gross basis)	248	272	305	261
Gold	89	85	95	86
Other precious metal	10	9	10	12
Other commodities	149	178	200	163
Credit derivatives	9,967	9,578	8,581	8,372	307	313	238	191
Credit default swaps	9,727	9,354	8,345	8,141	300	304	232	187
By instrument
Single-name instruments	5,101	4,570	4,145	3,952	152	130	118	105
Multi-name instruments	4,626	4,784	4,200	4,188	148	174	115	82
Index products	4,229	4,442	4,007	3,900
By counterparty
Reporting dealers	2,971	2,321	1,999	1,809	89	68	57	52
Other financial institutions	6,597	6,817	6,110	6,062	206	227	171	129
Central counterparties	4,912	5,136	4,519	4,445	142	164	118	75
Banks and security firms	426	487	406	400	12	14	11	8
Insurance firms	143	124	125	127	6	6	5	5
SPVs, SPCs and SPEs	90	76	56	48	4	4	3	2
Hedge funds	435	375	381	383	21	19	17	18
Other financial customers	590	618	624	658	20	21	18	20
Non-financial customers	159	216	236	271	6	9	5	6
By rating category
Investment grade	6,260	6,008	5,321	5,136
Non-investment grade	2,156	2,049	1,857	1,377
Non-rated	1,229	1,216	1,077	1,545
By maturity
Up to 1 year	2,513	1,882	1,404	1,474
Between 1 and 5 years	6,404	6,629	6,076	5,824
Over 5 years	727	763	775	760
By sector
Sovereigns	1,673	1,530	1,458	1,368
Financial firms	1,674	1,544	1,433	1,481
Non-financial firms	2,660	2,406	2,104	2,010
Securitised products	293	371	382	300
Multiple sectors	3,380	3,456	2,916	2,934
By location of counterparty
Home country	2,380	2,222	2,063	2,128
Abroad	7,265	7,051	6,192	5,930
United States	2,205	2,187	1,737	1,539
European developed countries	4,278	4,131	3,701	3,678
Japan	95	79	75	72
Other Asian countries	81	75	78	78
Latin America	323	313	327	314
All other countries	282	267	273	249
Other derivatives	112	137	164	199	9	8	9	22
Gross credit exposure					2,770	2,683	2,570	2,274