June 2022 SEF trading activity

29 July 2022

Trading volume on swap execution facilities reached $878.6 billion in average notional value per day during June 2022. This was down 5.7% from the previous month but up 1.4% from the same month of the previous year. Trading was down in every sector except for FX and non-FRA trading.

Trading of interest rate swaps and other non-FRA rates products was $652.5 billion per day in June. This level was up 0.3% from May 2022 and up 24.1% from June 2021. FRA trading reached $100.2 billion in average daily trading in June. This amount of daily trading was down 34.6% from the previous month and down 60% from a year ago.

Credit default swap trading averaged $59.3 billion per day in June, the largest level of daily trading for any June. Bloomberg’s market share decreased to 69.3% and Tradeweb’s share increased to 21.4%.

FX trading on SEFs reached $66.6 billion per day in June, the highest amount recorded for any June and an increase of 4.1% from the previous month. Tullett Prebon had the largest share of the trading volume with 30.6%. Tradition had the second highest share with 18.7%.  

Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014. 

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  • FIA Data