FIA August 2020 SEF Tracker

Trading volume on SEFs reached $529.4 billion in average notional value per day during August 2020. Trading was down in every category with the exception of FX and non-FRA products.

Trading of interest rate swaps and other non-FRA rates products was $253.1 billion per day in August, up 8.7% from July 2020 but down 47.5% from August 2019. FRA trading reached $208.7 billion in average daily trading in August, down 29.5% from the previous month and down 5.4% from a year ago.

Credit default swap trading averaged $16.4 billion per day in August, down 8.1% from July and the second lowest amount ever recorded for any August. Bloomberg’s market share increased to 70.8% while Tradeweb’s share decreased to 20.9%.

FX trading on SEFs reached $51.2 billion per day in August, an increase of 0.8% from the previous month but a 18% decrease from August 2019. Tullett Prebon had the largest share of the trading volume, with 30.5%, followed by BGC with 22.5%.