BIS Statistics Explorer: Table D5.2

Global OTC derivatives market

In billions of US dollars

« ‹ H2 2022 › »	Notional amounts outstanding				Gross market value
	H1 2021	H2 2021	H1 2022	H2 2022	H1 2021	H2 2021	H1 2022	H2 2022
Commodity contracts	2,453	2,218	2,962	2,337	300	391	920	521
By commodity
Gold	978	686	820	700	25	17	26	27
Other precious metal	116	95	106	91	7	6	8	8
Other commodities	1,359	1,437	2,036	1,546	268	368	886	486
By instrument & commodity
Forwards and swaps	1,586	1,708	2,341	1,814
Gold	487	528	627	548
Other precious metal	84	71	83	72
Other commodities	1,015	1,110	1,631	1,194
Total options	867	510	621	523
Gold	491	158	193	153
Other precious metal	32	24	23	19
Other commodities	344	328	405	352
Options sold (gross basis)	554	324	381	327
Gold	317	96	113	98
Other precious metal	17	12	12	10
Other commodities	221	215	256	219
Options bought (gross basis)	506	300	378	312
Gold	284	98	122	88
Other precious metal	22	17	16	13
Other commodities	200	185	240	211
Credit derivatives	9,121	9,061	9,542	9,941	220	211	247	186
Credit default swaps	8,813	8,800	9,316	9,728	205	199	211	146
By instrument
Single-name instruments	3,445	3,529	3,882	4,051	71	78	109	72
Multi-name instruments	5,368	5,271	5,434	5,677	134	120	103	74
Index products	4,335	4,905	5,160	5,156
By counterparty
Reporting dealers	1,112	1,160	1,178	1,169	33	33	46	30
Other financial institutions	7,458	7,405	8,013	8,456	166	160	159	111
Central counterparties	5,615	5,463	6,129	6,716	101	98	88	50
Banks and security firms	634	686	828	779	22	20	26	26
Insurance firms	112	113	120	103	6	5	4	3
SPVs, SPCs and SPEs	75	81	83	70	3	3	4	3
Hedge funds	406	395	391	332	15	15	19	16
Other financial customers	616	667	462	456	20	19	18	14
Non-financial customers	243	235	125	103	6	5	6	5
By rating category
Investment grade	4,769	4,551	4,630	4,648
Non-investment grade	1,879	2,008	2,216	2,139
Non-rated	1,927	2,007	2,013	2,495
By maturity
Up to 1 year	1,178	1,219	1,202	1,307
Between 1 and 5 years	6,673	6,656	6,999	7,317
Over 5 years	723	691	658	658
By sector
Sovereigns	1,109	1,124	1,196	1,146
Financial firms	1,822	1,672	1,705	1,715
Non-financial firms	2,325	2,246	2,269	2,584
Securitised products	953	174	155	201
Multiple sectors	2,402	3,386	3,626	3,727
By location of counterparty
Home country	2,136	2,217	2,423	2,553
Abroad	6,438	6,349	6,437	6,729
United States	1,981	2,213	2,069	2,394
European developed countries	3,848	3,484	3,716	3,718
Japan	84	85	82	90
Other Asian countries	72	68	74	80
Latin America	245	264	286	274
All other countries	209	236	209	174
Other derivatives	347	337	574	561	15	22	53	58
Gross credit exposure					2,713	2,535	3,297	3,673