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Table
D5.1
Structure
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Global OTC derivatives market
In billions of US dollars
«
‹
H1 2023
› »
Notional amounts outstanding
Gross market value
H2 2021
H1 2022
H2 2022
H1 2023
H2 2021
H1 2022
H2 2022
H1 2023
All contracts
598,416
632,113
617,959
714,744
12,439
18,347
20,750
19,832
Foreign exchange contracts
104,249
109,585
107,576
120,250
2,548
4,727
4,846
4,311
By instrument
Outright forwards and forex swaps
63,723
66,327
62,846
69,738
1,343
2,620
2,560
2,325
Currency swaps
30,049
30,284
31,802
34,549
1,041
1,815
2,016
1,718
Options
10,436
12,951
12,906
15,938
164
292
270
268
Other products
41
22
22
25
By counterparty
Reporting dealers
38,165
41,388
39,055
44,615
960
1,598
1,565
1,324
Other financial institutions
53,261
54,767
54,571
61,158
1,150
2,283
2,417
2,191
Central Counterparties
4,138
4,713
4,714
5,508
64
104
107
108
Non-financial customers
12,782
13,408
13,928
14,452
438
846
864
795
By maturity
Up to 1 year
81,032
86,261
83,576
94,588
Between 1 and 5 years
16,079
16,384
16,950
18,250
Over 5 years
7,098
6,917
7,027
7,387
By currency
US dollar
89,582
96,451
93,710
101,348
2,112
4,040
4,017
3,484
Euro
34,326
34,474
35,117
40,487
888
1,716
1,911
1,487
Yen
15,532
15,486
16,274
17,360
417
849
813
855
Pound (sterling)
14,004
13,162
12,867
15,094
315
477
503
442
Swiss franc
4,778
5,194
5,235
6,213
96
147
155
116
Canadian dollar
5,951
6,162
6,220
7,327
103
116
135
130
Swedish krona
2,158
2,074
1,988
2,209
56
244
257
250
Other currencies
42,168
46,166
43,739
50,461
1,109
1,865
1,901
1,857
Interest rate contracts
475,271
502,462
490,626
573,697
8,612
11,805
14,635
14,389
By instrument
FRAs
39,438
49,270
44,977
61,790
195
403
465
404
Swaps
397,109
414,195
405,539
465,910
7,787
10,623
13,249
13,164
Options
38,562
38,789
39,887
45,761
630
779
920
822
Other products
161
209
223
236
By counterparty
Reporting dealers
29,944
31,020
28,894
31,890
1,337
1,103
1,051
959
Other financial institutions
432,420
458,528
448,458
527,032
6,744
10,111
12,823
12,613
Central Counterparties
370,157
393,934
373,389
446,229
5,112
8,200
10,399
10,371
Non-financial customers
12,745
12,705
13,052
14,539
531
591
761
816
By maturity
Up to 1 year
193,616
213,885
203,909
267,585
Between 1 and 5 years
169,311
176,022
172,053
185,269
Over 5 years
112,181
112,346
114,442
120,606
By currency
US dollar
167,283
203,877
179,216
204,793
2,054
2,866
3,732
3,682
Euro
128,405
149,635
152,002
190,570
4,027
5,508
6,814
6,665
Yen
35,681
22,499
26,918
26,336
297
280
471
301
Pound (sterling)
51,618
34,888
36,749
40,734
1,236
1,223
1,579
1,774
Swiss franc
5,072
3,209
3,577
4,490
56
87
95
90
Canadian dollar
15,302
17,240
17,007
19,345
131
355
377
379
Swedish krona
5,484
5,635
5,429
5,555
50
186
215
207
Other currencies
66,426
65,478
69,728
81,875
761
1,301
1,352
1,290
Equity-linked contracts
7,280
6,989
6,919
7,838
655
595
504
570
By instrument
Forwards and swaps
3,968
3,512
3,469
3,688
278
349
277
265
Options
3,312
3,477
3,449
4,150
377
245
227
305
By counterparty
Reporting dealers
1,291
1,277
1,167
1,315
97
74
62
72
Other financial institutions
4,844
4,656
4,679
5,501
351
365
310
360
Central Counterparties
20
30
23
34
1
1
2
1
Non-financial customers
1,145
1,056
1,072
1,022
206
155
132
138
By maturity
Up to 1 year
4,607
4,514
4,350
4,980
Between 1 and 5 years
2,293
2,118
2,222
2,487
Over 5 years
379
357
346
371
By market
US equities
3,501
3,449
3,492
4,026
362
301
259
313
European equities
2,021
1,955
1,854
2,024
178
162
135
143
Japanese equities
266
232
198
189
14
12
11
14
Other Asian equities
363
361
361
358
27
33
27
19
Latin American equities
403
345
356
575
29
32
26
37
Other equities
725
647
658
665
45
54
46
43