Gross Notional Outstanding - Credit (Millions of USD)

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 3,581,213 1,244,945 4,826,158
Asia 58,057 92,258 150,314
Europe 1,992,410 315,608 2,308,018
North America 1,477,581 726,370 2,203,952
Other 53,164 110,709 163,874
OTHER* 4,196 778,611 782,808
TOTAL 3,585,409 2,023,556 5,608,965
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 59,023 157,224 0 216,247
Index 745,146 3,699,926 164,839 4,609,911
Asia 0 150,314 0 150,314
Europe 340,871 1,846,761 0 2,187,632
North America 404,275 1,702,680 1,245 2,108,201
Other 0 170 163,594 163,764
OTHER* 94,549 626,354 61,905 782,808
TOTAL 898,718 4,483,504 226,744 5,608,965
* 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* 5,566,049 2,710,853 1,604,769 1,336,260
Asia 100,872 153,904 15,242 30,611
Europe 3,268,909 417,608 715,911 213,608
North America 2,107,633 990,024 847,530 462,716
Other 88,635 1,149,318 26,087 629,324
TOTAL 5,566,049 2,710,853 1,604,769 1,336,260
* 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 89,211 196,617 0 28,835 117,831 0
Index 1,083,206 5,668,049 230,616 407,086 1,731,802 99,063
Asia 0 254,776 0 0 45,853 0
Europe 529,735 3,002,344 0 152,007 691,177 0
North America 553,471 2,410,589 2,316 255,079 994,772 174
Other 0 340 228,300 0 0 98,889
OTHER* 110,847 831,573 66,784 78,252 421,135 57,026
TOTAL 1,283,263 6,696,239 297,400 514,173 2,270,768 156,088
* 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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