Gross Notional Outstanding - Credit (Millions of USD)

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 2,217,094 1,339,143 3,556,237
Asia 46,778 95,361 142,139
Europe 1,359,527 409,344 1,768,871
North America 771,066 719,402 1,490,468
Other 39,722 115,037 154,759
OTHER* 2,979 757,077 760,056
TOTAL 2,220,073 2,096,221 4,316,293
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 61,811 137,834 0 199,646
Index 538,161 2,662,671 155,759 3,356,591
Asia 0 142,139 0 142,139
Europe 251,527 1,400,507 0 1,652,034
North America 286,634 1,119,730 1,295 1,407,659
Other 0 295 154,464 154,759
OTHER* 118,427 586,783 54,847 760,056
TOTAL 718,399 3,387,288 210,606 4,316,293
* 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* 3,312,828 2,711,808 1,127,318 1,480,633
Asia 81,627 157,073 11,930 33,648
Europe 2,198,613 572,056 520,441 246,631
North America 969,596 976,957 572,537 461,847
Other 62,992 1,005,722 22,410 738,507
TOTAL 3,312,828 2,711,808 1,127,318 1,480,633
* 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 94,917 168,823 0 28,705 106,846 0
Index 732,162 3,958,134 211,588 344,161 1,367,208 99,931
Asia 0 238,700 0 0 45,578 0
Europe 367,839 2,252,496 0 135,215 548,518 0
North America 364,322 1,466,372 2,452 208,945 773,088 139
Other 0 566 209,136 0 24 99,792
OTHER* 129,073 669,939 59,999 107,780 503,626 49,695
TOTAL 956,152 4,796,897 271,587 480,646 1,977,680 149,625
* 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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