Gross Notional Outstanding - Credit (Millions of USD)

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 2,145,744 1,128,973 3,274,716
Asia 49,011 88,062 137,074
Europe 1,337,690 293,058 1,630,748
North America 721,560 646,101 1,367,661
Other 37,482 101,751 139,233
OTHER* 3,419 781,373 784,792
TOTAL 2,149,163 1,910,346 4,059,509
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 55,648 140,823 0 196,471
Index 472,599 2,465,373 140,273 3,078,246
Asia 0 137,074 0 137,074
Europe 230,845 1,286,532 0 1,517,376
North America 241,754 1,041,598 1,210 1,284,563
Other 0 170 139,063 139,233
OTHER* 98,368 622,804 63,621 784,792
TOTAL 626,614 3,229,001 203,894 4,059,509
* 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* 3,011,361 2,461,353 1,286,964 1,359,339
Asia 81,733 147,481 16,289 28,643
Europe 2,079,299 389,070 596,081 197,046
North America 793,097 883,255 650,024 408,947
Other 57,232 1,041,546 24,570 724,703
TOTAL 3,011,361 2,461,353 1,286,964 1,359,339
* 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 82,033 175,296 0 29,262 106,350 0
Index 595,137 3,519,528 188,113 350,061 1,411,218 92,434
Asia 0 229,215 0 0 44,932 0
Europe 329,345 1,993,346 0 132,344 579,718 0
North America 265,791 1,296,629 2,281 217,717 786,568 139
Other 0 340 185,831 0 0 92,295
OTHER* 104,422 739,373 68,812 92,313 506,235 58,429
TOTAL 781,591 4,434,198 256,924 471,637 2,023,804 150,863
* 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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