Gross Notional Outstanding - Credit (Millions of USD) - 11/15/2024

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index / Other* 3,254,154 1,883,180 5,137,334
Asia 62,768 47,888 110,655
Europe 1,777,769 504,805 2,282,573
North America 1,336,944 777,038 2,113,982
Other Regions 76,674 553,449 630,123
TOTAL 3,254,154 1,883,180 5,137,334
       
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche / Index / Other* 752,820 3,718,930 665,584 5,137,334
Asia 0 110,655 0 110,655
Europe 360,718 1,921,845 11 2,282,573
North America 392,102 1,686,429 35,451 2,113,982
Other Regions 0 0 630,123 630,123
TOTAL 752,820 3,718,930 665,584 5,137,334
         
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product, Participant Type & Cleared Status

  Swap Dealers/MSPs5 Others
Product Cleared2 Uncleared Cleared Uncleared
Index Tranche / Index / Other* 4,475,094 2,425,921 2,033,214 1,340,439
Asia 105,787 79,587 19,748 16,188
Europe 2,803,252 644,959 752,285 364,651
North America 1,456,238 1,059,243 1,217,649 494,834
Other Regions 109,816 642,132 43,532 464,766
TOTAL 4,475,094 2,425,921 2,033,214 1,340,439
         
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product, Participant Type & Grade

  Swap Dealers/MSPs5 Others
Product HY6 IG Other HY IG Other
Index Tranche / Index / Other* 973,218 5,137,903 789,894 532,422 2,299,957 541,274
Asia 0 185,374 0 0 35,936 0
Europe 520,717 2,927,483 11 200,718 916,207 11
North America 452,500 2,025,045 37,936 331,704 1,347,814 32,966
Other Regions 0 0 751,948 0 0 508,298
TOTAL 973,218 5,137,903 789,894 532,422 2,299,957 541,274
             
* Includes exotic credit products, swaptions, and total return swaps.

Notes

Gross notional amount outstanding, current weekly snapshot, by product type and cleared status (millions of USD), all participant types, tenors and currencies. For cleared swaps, this table reflects only one of the two swaps that results from the clearing process; therefore, the numbers on this table are analogous to the notional value of futures open interest.
1 See Data Dictionary for product descriptions and Explanatory Notes for data sources.
2 See Explanatory Notes for cleared and uncleared descriptions.
3 See Explanatory Notes for currency descriptions.
4 See Explanatory Notes for tenor bucket descriptions.
5 See Explanatory Notes for participant type descriptions.
6 See Data Dictionary for grade descriptions.
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