Gross Notional Outstanding - FX (Millions of USD) - 04/25/2025

FX by Product & Cleared Status

ProductClearedUnclearedTotal
Swaps & Forwards85,72438,601,85638,687,580
NDF2,299,3485,535,1697,834,516
Options651,66710,678,52711,330,194
OTHER*130,79716,172,70016,303,498
TOTAL3,167,53670,988,25274,155,788
    
* Includes cross-currency and exotics.

FX by Major Currency Pair, Region & Product

Currency Pair1Swaps & ForwardsNDF7OptionsOther8Total
USD/35,563,0097,786,80210,306,16515,662,64969,318,625
EUROPE15,225,200184,7664,321,4248,784,82228,516,212
EUR8,058,951102,5763,512,5185,218,68216,892,728
GBP3,536,76933,211439,0082,708,7246,717,712
CHF1,730,38526,509311,061495,3922,563,346
OTHER21,899,09522,46958,837362,0252,342,426
AMERICAS/CARIBBEAN3,158,7251,884,3671,225,5761,719,5577,988,225
CAD2,234,82724,631721,1191,277,6674,258,244
BRL5881,139,978294,59724,1071,459,270
OTHER3923,311719,758209,860417,7822,270,711
ASIA/PACIFIC16,137,1165,665,3484,538,5445,055,77731,396,786
JPY6,230,64261,9261,898,3453,140,23011,331,142
CNY3,113,079302,560618,868279,4484,313,955
KRW199,0781,243,392100,04388,6271,631,139
HKD2,367,62825,605857,249171,7313,422,213
AUD1,859,56920,710381,750954,9593,216,987
OTHER42,367,1214,011,156682,290420,7847,481,350
OTHER51,041,96852,321220,620102,4921,417,403
EUR/non-USD2,346,55529,994712,373403,8373,492,759
OTHER6778,01617,720311,656237,0111,344,404
TOTAL38,687,5807,834,51611,330,19416,303,49874,155,788
      
1 Currency pairs having USD on one side are grouped into 4 geographic regions, namely Europe, Americas/Caribbean, Asia/Pacific, and Other.
2 Other major currencies in EUROPE region include SEK, NOK, DKK, PLN, and CZK.
3 Other major currencies in Americas/Caribbean region include MXN, CLP, COP, PEN, and ARS.
4 Other major currencies in Asia/Pacific include INR, TWD, SGD, NZD, and RUB.
5 Regions within the Other category include the Middle East and Africa.
6 Category includes currency pairs without USD or EUR leg. 
7 Top currency pairs for NDF not included above are USD versus INR, TWD, and IDR. 
8 Includes cross-currency and exotics. 

FX by Product & Tenor (Calendar Days)

Product0-3031-9091-180181-360360+Total
Swaps & Forwards8,436,68912,262,6768,716,9764,956,1894,315,05038,687,580
NDF1,353,7912,895,4721,540,0431,221,929823,2807,834,516
Options736,3132,280,3042,019,5742,952,0993,341,90411,330,194
OTHER*8,383189,485885,453590,63414,629,54216,303,498
TOTAL10,535,17717,627,93713,162,0469,720,85123,109,77774,155,788
       
* Includes cross-currency and exotics.

FX by Product, Participant Type & Cleared Status

 Swap Dealers/MSPsOthers
ProductClearedUnclearedClearedUncleared
Swaps & Forwards170,95755,046,17649222,157,537
NDF4,414,9478,026,072183,7483,044,265
Options1,303,33516,276,25405,080,799
OTHER*168,63027,783,69492,9644,561,706
TOTAL6,057,869107,132,197277,20434,844,306
     
* Includes cross-currency and exotics.
These tables show a weekly snapshot of gross notional amount outstanding. Individual tables break this down by product type, cleared status, tenor or currency. All numbers in the tables represent millions of USD. All tables include all participant types, tenors and currencies. For cleared swaps, these tables reflect only the legs held by the non-CCP counterparty; using this restriction, the numbers on this table are analogous to the notional value represented by futures open interest.
The Commission requests feedback on the format and content of this CFTC Swaps Report table. Submit comments to [email protected].