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FIA releases SEF Tracker for August 2016

First Published 28th September 2016

Total trading volume on SEFs averaged $430.4 billion per day during the month of August, with an increase of 5.7% from the previous month and 14.6% from August 2015. Trading activity in interest rate products bounced back from a slow July, but credit volume reached its lowest level since February 2014.

Rates: Trading averaged $385.7 billion per day in August, which was up 8.8% from July and 22.6% from a year ago. FRA trading averaged $207.6 billion in August, up 13.8% from the previous month and 34.2% from August 2015. Non-FRA rates trading increased by 3.5% from the previous month and 11.3% from last year. In terms of market share for non-FRAs, Tullett Prebon captured 18.5% of the market, followed by BGC with 16.7% and Tradeweb with 15.1%.

Credit: Trading averaged $13.95 billion per day in August, down 29.6% from July and 46.0% from August 2015. Bloomberg captured 71.8% of all credit default swap trading on SEFs in August, followed by Tradeweb with 11.8% and Tullett Prebon with 5.7%.

FX: Trading averaged $30.7 billion per day in August, a decrease of 6.1% from the previous month and 11.9% from last year. Average daily trading in NDFs was $19.2 billion per day, a decrease of 2.8% from July, and 10.2% from a year ago. In options trading, average volume was $11.1 billion per day, down 10.7% from the previous month and 14.7% from last year. In terms of market share, ICAP led the way with 23.9%, followed by BGC with 21.7% and Tullett Prebon with 19.0%.

Click here for the full report and related data.

FIA recently introduced its new, interactive version of the SEF Tracker: