Global OTC derivatives market
In billions of US dollars
< H2 2016 > >|
Notional amounts outstanding Gross market value
H1 2015 H2 2015 H1 2016 H2 2016 H1 2015 H2 2015 H1 2016 H2 2016
 Commodity contracts1,6711,3201,4011,350237297188163
 By commodity
     Gold24728634735426752528
     Other precious metal615263527664
     Other commodities1,363982992944205216157132
 By instrument & commodity
 Forwards and swaps1,101888961956            
     Gold156177211220            
     Other precious metal37324234            
     Other commodities908679708702            
 Total options570432440393            
     Gold92109136134            
     Other precious metal24202118            
     Other commodities454303284242            
 Options sold (gross basis)350252273239            
     Gold56558180            
     Other precious metal15131311            
     Other commodities278185179148            
 Options bought (gross basis)348276266242            
     Gold56788583            
     Other precious metal14121211            
     Other commodities278186169148            
     Credit derivatives0011,88010,01500346297
 Credit default swaps14,59412,29411,7679,857453421342292
 By instrument
     Single-name instruments8,2057,1836,5825,582278284215165
 Multi-name instruments6,3895,1105,1844,275175137127127
     Index products5,9094,7374,8363,840
 By counterparty
     Reporting dealers6,5035,4515,0983,740211195156114
 Other financial institutions7,8856,6526,5155,968235219181173
     Central counterparties4,5054,1854,3874,334117117102110
     Banks and security firms1,22985463542236261712
     Insurance firms1791631581535655
     SPVs, SPCs, or SPEs1861701539610865
     Hedge funds78861654844031352823
     Other financial customers99966563352235282218
     Non-financial customers2061901531497755
 By rating category
     Investment grade9,3197,9758,0906,467            
     Non-investment grade3,2522,2282,0912,026            
     Non-rated2,0242,0911,5861,364            
 By maturity
     Up to 1 year2,4262,6892,8012,672            
     Between 1 and 5 years10,9448,7788,1986,454            
     Over 5 years1,224827768731            
 By sector
     Sovereigns2,2842,0011,8671,715            
     Financial firms3,2592,6252,1751,805            
     Non-financial firms5,2754,2904,0343,180            
     Securitised products213225220305            
     Multiple Sectors3,5643,1523,4712,852            
 By location of counterparty
     Home country3,5102,8942,8912,517
 Abroad11,0859,4008,8767,340
     United States3,1592,5752,4532,166
     European developed countries6,7825,7185,4704,372
     Japan116137134100
     Other Asian countries10010210783
     Latin America607460326344
     All other countries320407386276
     Other derivatives0084960066
     Unallocated19,56617,48132,48728,3465885501,5051,066
     Gross credit exposure2,8702,8623,6993,310