FIA Releases SEF Tracker for July

FIA – Total trading volume on SEFs averaged $407.0 billion per day during the month of July, down 29.0% from the record high of the previous month but up 2.6% from July 2015. All asset classes showed significant decreases in volume from last month, especially rates which reached its lowest average in 2016.

Rates: Trading averaged $354.5 billion per day in July, which was down 29.7% from June but up 4.3% from a year ago. FRA trading averaged $182.5 billion in July, down 37.4% from previous month but up 2.1% from July 2015. Non-FRA rates trading decreased by 19.1% from previous month but increased 6.9% from last year. In terms of market share for non-FRAs, Tullett Prebon captured 18.9% of the market, followed by BGC with 16.6% and IGDL with 14.5%.

Credit: Trading averaged $19.8 billion per day in July, dropping 35.9% from June and 17.9% from July 2015. Bloomberg captured 75.6% of all credit default swap trading on SEFs in July, followed by Tradeweb with 13.2% and Tullett Prebon with 4.2%.

FX: Trading averaged $32.7 billion per day in July, a decrease of 13.9% from the previous month but approximately the same as last year. Average daily trading in NDFs was $19.7 billion per day, a decrease of 11.0% from June, and 3.9% from a year ago. In options trading, average volume was $12.5 billion per day, down 18.7% from previous month, and 5.8% from last year. In terms of market share, BGC led the way with 28.1%, followed by ICAP with 21.8% and Tullett Prebon with 16.8%. Note: data for FX trading in November 2015 has been revised to exclude a large trade that was cancelled

Related articles

  1. Lack of connection between the two markets in China has resulted in poor price discovery and liquidity.

  2. Volumes of sustainable debt surpassed $1.6 trillion in 2021.

  3. Canada Fragments

    The consolidated quote system for corporate bonds has raised funds to expand outside the US.

  4. It is important to maintain the voluntary nature of the standard.

  5. Industry Warned to Push Ahead with MiFID II Plans

    Proposed changes would lead to an unsustainable level of additional cost and liability for issuers.