Trading volume on swap execution facilities reached $928.9 billion in average notional value per day during June 2023. This was up 5.2% from the previous month and up 5.7% from the same month of the previous year. Compared to May 2023, trading was up in every category except the credit sector.
Trading of interest rate swaps and other non-FRA rates products was $640.5 billion per day in June. This level was up 0.4% from May 2023 but down 1.8% from June 2022. FRA trading reached $185.8 billion in average daily trading in June. This amount of daily trading was up 26.8% from the previous month and up 85.5% from a year ago.
Credit default swap trading averaged a $34.5 billion per day in June. Bloomberg’s market share decreased to 72.1% and Tradeweb’s share increased to 17.6%.
FX trading on SEFs reached $68 billion per day in June, the highest level for any June and an increase of 9.5% from the previous month. Tullett Prebon had the largest share of the trading volume with 29.2%. BGC had the second highest share with 22.4%
Access the FIA SEF TrackerTM to view interactive visualizations covering monthly trading activity on swap execution facilities going back to 2014.
