Gross Notional Outstanding - Credit (Millions of USD) - 11/25/2022

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 2,681,313 1,833,578 4,514,891
Asia 67,941 68,291 136,232
Europe 1,441,215 580,796 2,022,011
North America 1,121,013 1,068,782 2,189,795
Other 51,145 115,709 166,853
OTHER* 53,287 760,931 814,219
TOTAL 2,734,601 2,594,509 5,329,110
       
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 97,051 179,378 0 276,429
Index 735,864 3,333,634 168,965 4,238,462
Asia 0 136,232 0 136,232
Europe 336,867 1,553,409 1 1,890,276
North America 398,997 1,643,993 3,489 2,046,479
Other 0 0 165,475 165,475
OTHER* 124,522 598,262 91,435 814,219
TOTAL 957,437 4,111,274 260,399 5,329,110
         
* 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* 3,918,481 3,631,199 1,550,720 1,557,820
Asia 121,512 106,214 14,370 30,368
Europe 2,304,014 815,911 578,416 345,682
North America 1,363,779 1,631,356 878,247 506,208
Other 129,177 1,077,718 79,687 675,562
TOTAL 3,918,481 3,631,199 1,550,720 1,557,820
         
* 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 136,756 261,153 0 57,346 97,604 0
Index 984,062 4,958,415 254,526 487,665 1,708,852 83,403
Asia 0 227,725 0 0 44,738 0
Europe 495,762 2,429,764 1 177,971 677,054 1
North America 488,300 2,300,926 5,108 309,694 987,060 1,870
Other 0 0 249,417 0 0 81,532
OTHER* 145,192 705,167 104,409 103,853 491,356 78,460
TOTAL 1,266,010 5,924,735 358,935 648,864 2,297,813 161,864
             
* 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.
The Commission requests feedback on the format and content of this CFTC Swaps Report table. Submit comments to [email protected]