October 2022 SEF trading activity

1 December 2022

Trading volume on swap execution facilities reached $742.2 billion in average notional value per day during October 2022. This was down 9.9% from the previous month and down 31.8% from the same month of the previous year. Trading was down in every sector.

Trading of interest rate swaps and other non-FRA rates products was $496.2 billion per day in October. This level was down 6.2% from September 2022 and down 43.5% from October 2021. FRA trading reached $134.3 billion in average daily trading in October. This amount of daily trading was down 19.8% from the previous month but up 34.1% from a year ago.

Credit default swap trading averaged $51.9 billion per day in October, the second largest level of daily trading for any October. Bloomberg’s market share increased to 68% and Tradeweb’s share decreased to 22.5%.

FX trading on SEFs reached $59.8 billion per day in October, the third highest amount recorded for any October but a decrease of 1.1% from the previous month. Tullett Prebon had the largest share of the trading volume with 31.6%. BGC had the second highest share with 23.1%.

 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