BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2020 › »	Notional amounts outstanding				Gross market value
	H2 2018	H1 2019	H2 2019	H1 2020	H2 2018	H1 2019	H2 2019	H1 2020
Commodity contracts	1,903	2,114	2,129	2,099	220	198	197	260
By commodity
Gold	518	757	734	867	21	31	30	48
Other precious metal	65	73	101	82	4	4	5	6
Other commodities	1,320	1,285	1,294	1,150	195	163	162	206
By instrument & commodity
Forwards and swaps	1,455	1,506	1,520	1,494
Gold	381	495	512	572
Other precious metal	48	52	81	59
Other commodities	1,026	958	927	863
Total options	449	609	610	605
Gold	137	262	222	295
Other precious metal	17	20	20	23
Other commodities	294	326	367	287
Options sold (gross basis)	287	419	366	365
Gold	81	180	136	177
Other precious metal	10	11	10	12
Other commodities	197	228	220	176
Options bought (gross basis)	261	326	379	376
Gold	86	141	136	184
Other precious metal	12	14	14	16
Other commodities	163	171	230	176
Credit derivatives	8,372	8,418	8,119	9,050	191	235	222	200
Credit default swaps	8,141	7,809	7,578	8,809	187	214	199	185
By instrument
Single-name instruments	3,952	3,579	3,480	3,617	105	101	99	92
Multi-name instruments	4,188	4,229	4,098	5,192	82	112	101	93
Index products	3,900	3,888	3,803	4,806
By counterparty
Reporting dealers	1,809	1,571	1,424	1,446	52	49	44	48
Other financial institutions	6,062	5,933	5,873	7,052	129	156	148	129
Central counterparties	4,445	4,217	4,239	5,295	75	96	93	67
Banks and security firms	400	409	387	539	8	12	12	14
Insurance firms	127	111	116	110	5	6	5	6
SPVs, SPCs and SPEs	48	46	49	50	2	2	2	3
Hedge funds	383	371	329	297	18	16	15	17
Other financial customers	658	778	753	762	20	24	21	23
Non-financial customers	271	305	281	311	6	8	7	7
By rating category
Investment grade	5,136	4,529	4,436	4,784
Non-investment grade	1,377	1,610	1,631	1,895
Non-rated	1,545	1,420	1,293	1,893
By maturity
Up to 1 year	1,474	1,781	1,387	1,428
Between 1 and 5 years	5,824	5,015	5,286	6,396
Over 5 years	760	762	687	749
By sector
Sovereigns	1,368	1,265	1,228	1,250
Financial firms	1,481	1,603	1,638	1,661
Non-financial firms	2,010	2,181	2,156	2,387
Securitised products	300	278	208	307
Multiple sectors	2,934	2,270	2,164	3,005
By location of counterparty
Home country	2,128	1,869	1,843	2,110
Abroad	5,930	5,690	5,517	6,462
United States	1,539	1,552	1,612	1,854
European developed countries	3,678	3,322	3,187	3,843
Japan	72	69	66	76
Other Asian countries	78	70	69	84
Latin America	314	374	323	311
All other countries	249	303	260	295
Other derivatives	199	253	246	262	22	14	15	16
Gross credit exposure					2,274	2,663	2,360	3,204