BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2019 › »	Notional amounts outstanding				Gross market value
	H2 2017	H1 2018	H2 2018	H1 2019	H2 2017	H1 2018	H2 2018	H1 2019
Commodity contracts	1,862	2,133	1,903	2,114	189	207	220	198
By commodity
Gold	520	568	518	757	21	23	21	31
Other precious metal	53	70	65	73	3	4	4	4
Other commodities	1,288	1,495	1,320	1,285	164	180	195	163
By instrument & commodity
Forwards and swaps	1,414	1,627	1,455	1,506
Gold	381	419	381	495
Other precious metal	40	54	48	52
Other commodities	993	1,153	1,026	958
Total options	447	506	449	609
Gold	139	149	137	262
Other precious metal	14	15	17	20
Other commodities	294	342	294	326
Options sold (gross basis)	275	313	287	419
Gold	85	87	81	180
Other precious metal	8	9	10	11
Other commodities	182	218	197	228
Options bought (gross basis)	272	305	261	326
Gold	85	95	86	141
Other precious metal	9	10	12	14
Other commodities	178	200	163	171
Credit derivatives	9,578	8,581	8,372	8,418	313	238	191	235
Credit default swaps	9,354	8,345	8,141	7,809	304	232	187	214
By instrument
Single-name instruments	4,570	4,145	3,952	3,579	130	118	105	101
Multi-name instruments	4,784	4,200	4,188	4,229	174	115	82	112
Index products	4,442	4,007	3,900	3,888
By counterparty
Reporting dealers	2,321	1,999	1,809	1,571	68	57	52	49
Other financial institutions	6,817	6,110	6,062	5,933	227	171	129	156
Central counterparties	5,136	4,519	4,445	4,217	164	118	75	96
Banks and security firms	487	406	400	409	14	11	8	12
Insurance firms	124	125	127	111	6	5	5	6
SPVs, SPCs and SPEs	76	56	48	46	4	3	2	2
Hedge funds	375	381	383	371	19	17	18	16
Other financial customers	618	624	658	778	21	18	20	24
Non-financial customers	216	236	271	305	9	5	6	8
By rating category
Investment grade	6,008	5,321	5,136	4,529
Non-investment grade	2,049	1,857	1,377	1,610
Non-rated	1,216	1,077	1,545	1,420
By maturity
Up to 1 year	1,882	1,404	1,474	1,781
Between 1 and 5 years	6,629	6,076	5,824	5,015
Over 5 years	763	775	760	762
By sector
Sovereigns	1,530	1,458	1,368	1,265
Financial firms	1,544	1,433	1,481	1,603
Non-financial firms	2,406	2,104	2,010	2,181
Securitised products	371	382	300	278
Multiple sectors	3,456	2,916	2,934	2,270
By location of counterparty
Home country	2,222	2,063	2,128	1,869
Abroad	7,051	6,192	5,930	5,690
United States	2,187	1,737	1,539	1,552
European developed countries	4,131	3,701	3,678	3,322
Japan	79	75	72	69
Other Asian countries	75	78	78	70
Latin America	313	327	314	374
All other countries	267	273	249	303
Other derivatives	137	164	199	253	8	9	22	14
Gross credit exposure					2,683	2,570	2,274	2,663