Gross Notional Outstanding - Credit (Millions of USD) - 06/03/2022

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 2,618,577 1,762,433 4,381,011
Asia 68,054 61,145 129,199
Europe 1,380,334 715,664 2,095,998
North America 1,122,331 908,923 2,031,254
Other 47,859 76,701 124,560
OTHER* 13,236 1,097,252 1,110,488
TOTAL 2,631,813 2,859,686 5,491,499
       
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 80,720 174,416 0 255,136
Index 728,024 3,273,034 124,816 4,125,874
Asia 0 129,199 0 129,199
Europe 351,852 1,613,128 0 1,964,980
North America 376,171 1,530,707 3,284 1,910,162
Other 0 0 121,533 121,533
OTHER* 180,351 850,335 79,802 1,110,488
TOTAL 989,095 4,297,785 204,619 5,491,499
         
* 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* 3,594,904 3,972,717 1,668,722 1,746,654
Asia 118,475 98,154 17,633 24,137
Europe 2,128,067 1,063,574 632,601 367,754
North America 1,262,805 1,328,963 981,856 488,883
Other 85,558 1,482,026 36,632 865,881
TOTAL 3,594,904 3,972,717 1,668,722 1,746,654
         
* 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 115,200 245,997 0 46,241 102,835 0
Index 959,041 4,681,337 181,881 497,006 1,864,732 67,751
Asia 0 216,630 0 0 41,769 0
Europe 513,640 2,493,079 0 190,064 733,176 0
North America 445,401 1,971,629 4,451 306,942 1,089,786 2,116
Other 0 0 177,431 0 0 65,635
OTHER* 220,321 1,073,965 89,878 140,380 626,704 69,727
TOTAL 1,294,562 6,001,300 271,760 683,627 2,594,271 137,478
             
* 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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