Gross Notional Outstanding - Credit (Millions of USD)

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 2,503,077 1,546,472 4,049,549
Asia 58,031 107,431 165,462
Europe 1,654,519 489,889 2,144,409
North America 757,127 802,342 1,559,470
Other 33,400 146,810 180,209
OTHER* 393 489,530 489,922
TOTAL 2,503,470 2,036,002 4,539,472
       
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 63,571 153,847 0 217,418
Index 621,491 3,029,331 181,309 3,832,132
Asia 0 165,462 0 165,462
Europe 293,053 1,729,915 0 2,022,968
North America 328,439 1,133,955 1,210 1,463,603
Other 0 0 180,099 180,099
OTHER* 96,116 329,374 64,432 489,922
TOTAL 781,178 3,512,552 245,741 4,539,472
         
* 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* 3,603,040 2,700,352 1,403,900 1,371,652
Asia 99,353 171,568 16,709 43,293
Europe 2,554,016 697,168 755,022 282,611
North America 904,219 1,107,110 610,036 497,575
Other 45,452 724,506 22,133 548,173
TOTAL 3,603,040 2,700,352 1,403,900 1,371,652
         
* 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 100,583 198,540 0 26,558 109,154 0
Index 816,926 4,415,215 235,663 426,057 1,643,448 126,956
Asia 0 270,921 0 0 60,002 0
Europe 427,367 2,663,666 0 158,738 796,164 0
North America 389,559 1,480,628 2,281 267,318 787,281 139
Other 0 0 233,381 0 0 126,817
OTHER* 107,000 359,012 70,454 85,233 299,736 58,410
TOTAL 1,024,509 4,972,767 306,117 537,848 2,052,337 185,366
             
* 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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