BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2021 › »	Notional amounts outstanding				Gross market value
	H2 2019	H1 2020	H2 2020	H1 2021	H2 2019	H1 2020	H2 2020	H1 2021
Commodity contracts	2,129	2,099	2,051	2,453	197	260	216	300
By commodity
Gold	734	867	834	978	30	48	33	25
Other precious metal	101	82	95	116	5	6	8	7
Other commodities	1,294	1,150	1,122	1,359	162	206	174	268
By instrument & commodity
Forwards and swaps	1,520	1,494	1,452	1,586
Gold	512	572	530	487
Other precious metal	81	59	64	84
Other commodities	927	863	858	1,015
Total options	610	605	598	867
Gold	222	295	303	491
Other precious metal	20	23	31	32
Other commodities	367	287	264	344
Options sold (gross basis)	366	365	404	554
Gold	136	177	220	317
Other precious metal	10	12	18	17
Other commodities	220	176	166	221
Options bought (gross basis)	379	376	328	506
Gold	136	184	151	284
Other precious metal	14	16	20	22
Other commodities	230	176	157	200
Credit derivatives	8,119	9,050	8,649	9,121	222	200	219	220
Credit default swaps	7,578	8,809	8,359	8,813	199	185	202	205
By instrument
Single-name instruments	3,480	3,617	3,484	3,445	99	92	77	71
Multi-name instruments	4,098	5,192	4,876	5,368	101	93	125	134
Index products	3,803	4,806	4,529	4,335
By counterparty
Reporting dealers	1,424	1,446	1,261	1,112	44	48	38	33
Other financial institutions	5,873	7,052	6,798	7,458	148	129	156	166
Central counterparties	4,239	5,295	5,222	5,615	93	67	95	101
Banks and security firms	387	539	412	634	12	14	14	22
Insurance firms	116	110	109	112	5	6	8	6
SPVs, SPCs and SPEs	49	50	63	75	2	3	3	3
Hedge funds	329	297	277	406	15	17	14	15
Other financial customers	753	762	715	616	21	23	21	20
Non-financial customers	281	311	301	243	7	7	8	6
By rating category
Investment grade	4,436	4,784	4,718	4,769
Non-investment grade	1,631	1,895	1,741	1,879
Non-rated	1,293	1,893	1,673	1,927
By maturity
Up to 1 year	1,387	1,428	1,218	1,178
Between 1 and 5 years	5,286	6,396	6,205	6,673
Over 5 years	687	749	710	723
By sector
Sovereigns	1,228	1,250	1,140	1,109
Financial firms	1,638	1,661	1,627	1,822
Non-financial firms	2,156	2,387	2,304	2,325
Securitised products	208	307	292	953
Multiple sectors	2,164	3,005	2,804	2,402
By location of counterparty
Home country	1,843	2,110	1,978	2,136
Abroad	5,517	6,462	6,154	6,438
United States	1,612	1,854	1,816	1,981
European developed countries	3,187	3,843	3,668	3,848
Japan	66	76	75	84
Other Asian countries	69	84	76	72
Latin America	323	311	277	245
All other countries	260	295	242	209
Other derivatives	246	262	227	347	15	16	13	15
Gross credit exposure					2,360	3,204	3,366	2,713