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

IRS by Product & Cleared Status

Product1Cleared2UnclearedTotal
Basis10,761,974989,27411,751,248
Fixed-Float81,257,4885,500,39486,757,882
OIS175,991,7696,193,921182,185,691
Swaption023,353,97023,353,970
OTHER*25,929,3923,047,14928,976,540
TOTAL293,940,62339,084,709333,025,332
    
* Includes the following products: Cap/Floor, Debt Option, Exotic, Fixed-Fixed, FRA, and Inflation.

IRS by Product & Major Currency

Product1USD3EURGBPJPYAUDOtherTotal
Basis6,685,4021,503,31360,78579,3713,244,670177,70611,751,248
Fixed-Float2,149,52552,845,75477,8441,629,8739,350,01920,704,86786,757,882
OIS78,086,47334,802,30427,764,52012,495,4975,336,64723,700,251182,185,691
Swaption12,675,4247,748,0031,330,2701,274,777178,884146,61223,353,970
OTHER*3,467,24619,624,2942,322,00319,97715,0523,527,96928,976,540
TOTAL103,064,070116,523,66731,555,42215,499,49518,125,27348,257,406333,025,332
        
* Includes the following products: Cap/Floor, Debt Option, Exotic, Fixed-Fixed, FRA, and Inflation.

IRS by Product & Tenor

Product10-343-66-1212-2424-6060+Total
Basis2,571,030409,2741,484,3281,180,5652,448,8473,657,20611,751,248
Fixed-Float6,691,9293,324,0959,938,79611,848,52422,792,85332,161,68586,757,882
OIS60,731,7414,711,86118,921,50120,977,74035,871,07840,971,770182,185,691
Swaption2,072,0822,148,7215,239,2204,349,5254,945,2174,599,20423,353,970
OTHER*19,638,31877,590929,614878,7742,535,5224,916,72228,976,540
TOTAL91,705,10010,671,54136,513,45939,235,12768,593,51886,306,587333,025,332
        
* Includes the following products: Cap/Floor, Debt Option, Exotic, Fixed-Fixed, FRA, and Inflation.

IRS by Product, Participant Type & Cleared Status

 Swap Dealers/MSPs5Others
Product1Cleared2UnclearedClearedUncleared
Basis16,894,9291,513,7124,629,019464,837
Fixed-Float105,514,4687,004,22857,000,5083,996,561
OIS248,035,6956,927,959103,947,8445,459,884
Swaption037,300,77909,407,161
OTHER*40,835,0984,155,97111,023,6851,938,327
TOTAL411,280,19056,902,649176,601,05521,266,769
     
* Includes the following products: Cap/Floor, Debt Option, Exotic, Fixed-Fixed, FRA, and Inflation.

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].