BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H1 2022 › »	Notional amounts outstanding				Gross market value
	H2 2020	H1 2021	H2 2021	H1 2022	H2 2020	H1 2021	H2 2021	H1 2022
Commodity contracts	2,051	2,453	2,218	2,962	216	300	391	920
By commodity
Gold	834	978	686	820	33	25	17	26
Other precious metal	95	116	95	106	8	7	6	8
Other commodities	1,122	1,359	1,437	2,036	174	268	368	886
By instrument & commodity
Forwards and swaps	1,452	1,586	1,708	2,341
Gold	530	487	528	627
Other precious metal	64	84	71	83
Other commodities	858	1,015	1,110	1,631
Total options	598	867	510	621
Gold	303	491	158	193
Other precious metal	31	32	24	23
Other commodities	264	344	328	405
Options sold (gross basis)	404	554	324	381
Gold	220	317	96	113
Other precious metal	18	17	12	12
Other commodities	166	221	215	256
Options bought (gross basis)	328	506	300	378
Gold	151	284	98	122
Other precious metal	20	22	17	16
Other commodities	157	200	185	240
Credit derivatives	8,649	9,121	9,061	9,542	219	220	211	247
Credit default swaps	8,359	8,813	8,800	9,316	202	205	199	211
By instrument
Single-name instruments	3,484	3,445	3,529	3,882	77	71	78	109
Multi-name instruments	4,876	5,368	5,271	5,434	125	134	120	103
Index products	4,529	4,335	4,905	5,160
By counterparty
Reporting dealers	1,261	1,112	1,160	1,178	38	33	33	46
Other financial institutions	6,798	7,458	7,405	8,013	156	166	160	159
Central counterparties	5,222	5,615	5,463	6,129	95	101	98	88
Banks and security firms	412	634	686	828	14	22	20	26
Insurance firms	109	112	113	120	8	6	5	4
SPVs, SPCs and SPEs	63	75	81	83	3	3	3	4
Hedge funds	277	406	395	391	14	15	15	19
Other financial customers	715	616	667	462	21	20	19	18
Non-financial customers	301	243	235	125	8	6	5	6
By rating category
Investment grade	4,718	4,769	4,551	4,630
Non-investment grade	1,741	1,879	2,008	2,216
Non-rated	1,673	1,927	2,007	2,013
By maturity
Up to 1 year	1,218	1,178	1,219	1,202
Between 1 and 5 years	6,205	6,673	6,656	6,999
Over 5 years	710	723	691	658
By sector
Sovereigns	1,140	1,109	1,124	1,196
Financial firms	1,627	1,822	1,672	1,705
Non-financial firms	2,304	2,325	2,246	2,269
Securitised products	292	953	174	155
Multiple sectors	2,804	2,402	3,386	3,626
By location of counterparty
Home country	1,978	2,136	2,217	2,423
Abroad	6,154	6,438	6,349	6,437
United States	1,816	1,981	2,213	2,069
European developed countries	3,668	3,848	3,484	3,716
Japan	75	84	85	82
Other Asian countries	76	72	68	74
Latin America	277	245	264	286
All other countries	242	209	236	209
Other derivatives	227	347	337	574	13	15	22	53
Gross credit exposure					3,366	2,713	2,535	3,297