BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2019 › »	Notional amounts outstanding				Gross market value
	H1 2018	H2 2018	H1 2019	H2 2019	H1 2018	H2 2018	H1 2019	H2 2019
Commodity contracts	2,133	1,903	2,114	2,129	207	220	198	197
By commodity
Gold	568	518	757	734	23	21	31	30
Other precious metal	70	65	73	101	4	4	4	5
Other commodities	1,495	1,320	1,285	1,294	180	195	163	162
By instrument & commodity
Forwards and swaps	1,627	1,455	1,506	1,520
Gold	419	381	495	512
Other precious metal	54	48	52	81
Other commodities	1,153	1,026	958	927
Total options	506	449	609	610
Gold	149	137	262	222
Other precious metal	15	17	20	20
Other commodities	342	294	326	367
Options sold (gross basis)	313	287	419	366
Gold	87	81	180	136
Other precious metal	9	10	11	10
Other commodities	218	197	228	220
Options bought (gross basis)	305	261	326	379
Gold	95	86	141	136
Other precious metal	10	12	14	14
Other commodities	200	163	171	230
Credit derivatives	8,581	8,372	8,418	8,119	238	191	235	222
Credit default swaps	8,345	8,141	7,809	7,578	232	187	214	199
By instrument
Single-name instruments	4,145	3,952	3,579	3,480	118	105	101	99
Multi-name instruments	4,200	4,188	4,229	4,098	115	82	112	101
Index products	4,007	3,900	3,888	3,803
By counterparty
Reporting dealers	1,999	1,809	1,571	1,424	57	52	49	44
Other financial institutions	6,110	6,062	5,933	5,873	171	129	156	148
Central counterparties	4,519	4,445	4,217	4,239	118	75	96	93
Banks and security firms	406	400	409	387	11	8	12	12
Insurance firms	125	127	111	116	5	5	6	5
SPVs, SPCs and SPEs	56	48	46	49	3	2	2	2
Hedge funds	381	383	371	329	17	18	16	15
Other financial customers	624	658	778	753	18	20	24	21
Non-financial customers	236	271	305	281	5	6	8	7
By rating category
Investment grade	5,321	5,136	4,529	4,436
Non-investment grade	1,857	1,377	1,610	1,631
Non-rated	1,077	1,545	1,420	1,293
By maturity
Up to 1 year	1,404	1,474	1,781	1,387
Between 1 and 5 years	6,076	5,824	5,015	5,286
Over 5 years	775	760	762	687
By sector
Sovereigns	1,458	1,368	1,265	1,228
Financial firms	1,433	1,481	1,603	1,638
Non-financial firms	2,104	2,010	2,181	2,156
Securitised products	382	300	278	208
Multiple sectors	2,916	2,934	2,270	2,164
By location of counterparty
Home country	2,063	2,128	1,869	1,843
Abroad	6,192	5,930	5,690	5,517
United States	1,737	1,539	1,552	1,612
European developed countries	3,701	3,678	3,322	3,187
Japan	75	72	69	66
Other Asian countries	78	78	70	69
Latin America	327	314	374	323
All other countries	273	249	303	260
Other derivatives	164	199	253	246	9	22	14	15
Gross credit exposure					2,570	2,274	2,663	2,360