BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2021 › »	Notional amounts outstanding				Gross market value
	H1 2020	H2 2020	H1 2021	H2 2021	H1 2020	H2 2020	H1 2021	H2 2021
Commodity contracts	2,099	2,051	2,453	2,218	260	216	300	391
By commodity
Gold	867	834	978	686	48	33	25	17
Other precious metal	82	95	116	95	6	8	7	6
Other commodities	1,150	1,122	1,359	1,437	206	174	268	368
By instrument & commodity
Forwards and swaps	1,494	1,452	1,586	1,708
Gold	572	530	487	528
Other precious metal	59	64	84	71
Other commodities	863	858	1,015	1,110
Total options	605	598	867	510
Gold	295	303	491	158
Other precious metal	23	31	32	24
Other commodities	287	264	344	328
Options sold (gross basis)	365	404	554	324
Gold	177	220	317	96
Other precious metal	12	18	17	12
Other commodities	176	166	221	215
Options bought (gross basis)	376	328	506	300
Gold	184	151	284	98
Other precious metal	16	20	22	17
Other commodities	176	157	200	185
Credit derivatives	9,050	8,649	9,121	9,061	200	219	220	211
Credit default swaps	8,809	8,359	8,813	8,800	185	202	205	199
By instrument
Single-name instruments	3,617	3,484	3,445	3,529	92	77	71	78
Multi-name instruments	5,192	4,876	5,368	5,271	93	125	134	120
Index products	4,806	4,529	4,335	4,905
By counterparty
Reporting dealers	1,446	1,261	1,112	1,160	48	38	33	33
Other financial institutions	7,052	6,798	7,458	7,405	129	156	166	160
Central counterparties	5,295	5,222	5,615	5,463	67	95	101	98
Banks and security firms	539	412	634	686	14	14	22	20
Insurance firms	110	109	112	113	6	8	6	5
SPVs, SPCs and SPEs	50	63	75	81	3	3	3	3
Hedge funds	297	277	406	395	17	14	15	15
Other financial customers	762	715	616	667	23	21	20	19
Non-financial customers	311	301	243	235	7	8	6	5
By rating category
Investment grade	4,784	4,718	4,769	4,551
Non-investment grade	1,895	1,741	1,879	2,008
Non-rated	1,893	1,673	1,927	2,007
By maturity
Up to 1 year	1,428	1,218	1,178	1,219
Between 1 and 5 years	6,396	6,205	6,673	6,656
Over 5 years	749	710	723	691
By sector
Sovereigns	1,250	1,140	1,109	1,124
Financial firms	1,661	1,627	1,822	1,672
Non-financial firms	2,387	2,304	2,325	2,246
Securitised products	307	292	953	174
Multiple sectors	3,005	2,804	2,402	3,386
By location of counterparty
Home country	2,110	1,978	2,136	2,217
Abroad	6,462	6,154	6,438	6,349
United States	1,854	1,816	1,981	2,213
European developed countries	3,843	3,668	3,848	3,484
Japan	76	75	84	85
Other Asian countries	84	76	72	68
Latin America	311	277	245	264
All other countries	295	242	209	236
Other derivatives	262	227	347	337	16	13	15	22
Gross credit exposure					3,204	3,366	2,713	2,535