Gross Notional Outstanding - Credit (Millions of USD)

CDS by Product & Cleared Status

Product Cleared2 Uncleared Total
Index Tranche / Index 1,897,979 1,294,882 3,192,861
Asia 20,258 77,490 97,748
Europe 1,212,539 429,777 1,642,316
North America 610,546 679,932 1,290,479
Other 54,635 107,682 162,318
OTHER* 1,351 855,699 857,050
TOTAL 1,899,330 2,150,581 4,049,911
* Includes exotic credit products, swaptions, and total return swaps.

CDS by Product & Grade

Product HY6 IG Other Total
Index Tranche 37,203 44,017 119,566 200,785
Index 275,306 877,981 1,838,789 2,992,076
Asia 0 0 97,748 97,748
Europe 0 0 1,522,751 1,522,751
North America 275,306 877,981 55,973 1,209,259
Other 0 0 162,318 162,318
OTHER* 494,294 0 362,756 857,050
TOTAL 806,802 921,998 2,321,111 4,049,911
* 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* 2,797,097 2,756,455 1,001,563 1,544,706
Asia 33,152 128,806 7,364 26,174
Europe 1,997,448 587,899 427,630 271,655
North America 680,390 942,972 540,703 416,892
Other 86,107 1,096,778 25,867 829,985
TOTAL 2,797,097 2,756,455 1,001,563 1,544,706
* 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 56,031 55,817 156,882 18,374 32,216 82,249
Index 354,191 1,076,479 2,904,056 196,420 679,484 773,522
Asia 0 0 161,958 0 0 33,538
Europe 0 0 2,428,465 0 0 617,036
North America 354,191 1,076,479 80,844 196,420 679,484 31,101
Other 0 0 232,789 0 0 91,847
OTHER* 504,091 0 446,005 484,497 0 279,508
TOTAL 914,313 1,132,296 3,506,943 699,291 711,700 1,135,279
* 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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