BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2020 › »	Notional amounts outstanding				Gross market value
	H1 2019	H2 2019	H1 2020	H2 2020	H1 2019	H2 2019	H1 2020	H2 2020
Commodity contracts	2,114	2,129	2,099	2,051	198	197	260	216
By commodity
Gold	757	734	867	834	31	30	48	33
Other precious metal	73	101	82	95	4	5	6	8
Other commodities	1,285	1,294	1,150	1,122	163	162	206	174
By instrument & commodity
Forwards and swaps	1,506	1,520	1,494	1,452
Gold	495	512	572	530
Other precious metal	52	81	59	64
Other commodities	958	927	863	858
Total options	609	610	605	598
Gold	262	222	295	303
Other precious metal	20	20	23	31
Other commodities	326	367	287	264
Options sold (gross basis)	419	366	365	404
Gold	180	136	177	220
Other precious metal	11	10	12	18
Other commodities	228	220	176	166
Options bought (gross basis)	326	379	376	328
Gold	141	136	184	151
Other precious metal	14	14	16	20
Other commodities	171	230	176	157
Credit derivatives	8,418	8,119	9,050	8,649	235	222	200	219
Credit default swaps	7,809	7,578	8,809	8,359	214	199	185	202
By instrument
Single-name instruments	3,579	3,480	3,617	3,484	101	99	92	77
Multi-name instruments	4,229	4,098	5,192	4,876	112	101	93	125
Index products	3,888	3,803	4,806	4,529
By counterparty
Reporting dealers	1,571	1,424	1,446	1,261	49	44	48	38
Other financial institutions	5,933	5,873	7,052	6,798	156	148	129	156
Central counterparties	4,217	4,239	5,295	5,222	96	93	67	95
Banks and security firms	409	387	539	412	12	12	14	14
Insurance firms	111	116	110	109	6	5	6	8
SPVs, SPCs and SPEs	46	49	50	63	2	2	3	3
Hedge funds	371	329	297	277	16	15	17	14
Other financial customers	778	753	762	715	24	21	23	21
Non-financial customers	305	281	311	301	8	7	7	8
By rating category
Investment grade	4,529	4,436	4,784	4,718
Non-investment grade	1,610	1,631	1,895	1,741
Non-rated	1,420	1,293	1,893	1,673
By maturity
Up to 1 year	1,781	1,387	1,428	1,218
Between 1 and 5 years	5,015	5,286	6,396	6,205
Over 5 years	762	687	749	710
By sector
Sovereigns	1,265	1,228	1,250	1,140
Financial firms	1,603	1,638	1,661	1,627
Non-financial firms	2,181	2,156	2,387	2,304
Securitised products	278	208	307	292
Multiple sectors	2,270	2,164	3,005	2,804
By location of counterparty
Home country	1,869	1,843	2,110	1,978
Abroad	5,690	5,517	6,462	6,154
United States	1,552	1,612	1,854	1,816
European developed countries	3,322	3,187	3,843	3,668
Japan	69	66	76	75
Other Asian countries	70	69	84	76
Latin America	374	323	311	277
All other countries	303	260	295	242
Other derivatives	253	246	262	227	14	15	16	13
Gross credit exposure					2,663	2,360	3,204	3,366