The paper outlines changes in over-the-counter interest rate derivatives markets between April 2022 and April 2025, while providing a view of global derivatives trading activity across currencies and trading locations.
The International Swaps and Derivatives Association (Isda) has released a paper highlighting changes in over-the-counter (OTC) interest rate derivatives (IRD) markets between April 2022 and April 2025. Global IRD average daily turnover rose by nearly 60% to US$7.9 trillion in April 2025 The paper, released on 20 November, is based on data from the Bank for International Settlements (BIS) Triennial Central Bank Survey and provides a comprehensive view of global IRD trading activity acro