Appendix 10
Global OTC Derivatives Market-Source BIS
| In billions of US dollars | Table D5 | |||||||
| Notional amounts outstanding | Gross market value | |||||||
| H2 2013 | H1 2014 | H2 2014 | H1 2015 | H2 2013 | H1 2014 | H2 2014 | H1 2015 | |
| Commodity contracts | 2,204 | 2,206 | 1,869 | 1,671 | 264 | 269 | 318 | 237 |
| By commodity | ||||||||
| Gold | 341 | 319 | 323 | 247 | 47 | 32 | 34 | 26 |
| Other precious metal | 63 | 94 | 66 | 61 | 7 | 7 | 7 | 7 |
| Other commodities | 1,800 | 1,792 | 1,481 | 1,363 | 210 | 230 | 277 | 205 |
| By instrument and commodity | ||||||||
| Forwards and swaps | 1,462 | 1,474 | 1,215 | 1,101 | ... | ... | ... | ... |
| Gold | 202 | 191 | 177 | 156 | ... | ... | ... | ... |
| Other precious metal | 31 | 50 | 35 | 37 | ... | ... | ... | ... |
| Other commodities | 1,228 | 1,233 | 1,003 | 908 | ... | ... | ... | ... |
| Total options | 742 | 732 | 654 | 570 | ... | ... | ... | ... |
| Gold | 139 | 128 | 145 | 92 | ... | ... | ... | ... |
| Other precious metal | 31 | 44 | 31 | 24 | ... | ... | ... | ... |
| Other commodities | 572 | 559 | 478 | 454 | ... | ... | ... | ... |
| Options sold (gross basis) | 436 | 432 | 396 | 350 | ... | ... | ... | ... |
| Gold | 86 | 76 | 88 | 56 | ... | ... | ... | ... |
| Other precious metal | 21 | 28 | 19 | 15 | ... | ... | ... | ... |
| Other commodities | 329 | 328 | 289 | 278 | ... | ... | ... | ... |
| Options bought (gross basis) | 472 | 463 | 404 | 348 | ... | ... | ... | ... |
| Gold | 84 | 81 | 90 | 56 | ... | ... | ... | ... |
| Other precious metal | 18 | 26 | 19 | 14 | ... | ... | ... | ... |
| Other commodities | 370 | 356 | 295 | 278 | ... | ... | ... | ... |
| Credit default swaps | 21,020 | 19,462 | 16,399 | 14,596 | 653 | 635 | 593 | 453 |
| By instrument | ||||||||
| Single-name instruments | 11,324 | 10,845 | 9,041 | 8,205 | 369 | 368 | 366 | 278 |
| Multiname instruments | 9,696 | 8,617 | 7,358 | 6,391 | 284 | 266 | 227 | 175 |
| Index products | 8,746 | 7,939 | 6,747 | 5,909 | ... | ... | ... | ... |
| By counterparty | ||||||||
| Reporting dealers | 11,053 | 9,540 | 7,717 | 6,505 | 369 | 313 | 289 | 211 |
| Other financial institutions | 9,779 | 9,719 | 8,485 | 7,885 | 276 | 313 | 296 | 235 |
| Central counterparties | 5,518 | 5,196 | 4,790 | 4,505 | 123 | 143 | 144 | 117 |
| Banks and securities firms | 1,724 | 2,042 | 1,348 | 1,229 | 53 | 70 | 46 | 36 |
| Insurance firms | 209 | 197 | 216 | 179 | 7 | 6 | 7 | 5 |
| SPVs, SPCs, and SPEs | 363 | 270 | 219 | 186 | 16 | 15 | 12 | 10 |
| Hedge funds | 1,034 | 1,112 | 814 | 787 | 44 | 45 | 42 | 31 |
| Other financial customers | 931 | 901 | 1,098 | 999 | 33 | 33 | 44 | 35 |
| Nonfinancial customers | 188 | 203 | 197 | 206 | 9 | 9 | 8 | 7 |
| By rating category | ||||||||
| Investment grade | 13,205 | 12,606 | 9,741 | 9,321 | ... | ... | ... | ... |
| Non-investment grade | 4,867 | 4,223 | 3,599 | 3,253 | ... | ... | ... | ... |
| Non-rated | 2,948 | 2,634 | 3,059 | 2,023 | ... | ... | ... | ... |
| By maturity | ||||||||
| Up to one year | 3,655 | 3,718 | 3,010 | 2,426 | ... | ... | ... | ... |
| Between one and five years | 16,162 | 14,491 | 12,367 | 10,944 | ... | ... | ... | ... |
| Over five years | 1,203 | 1,252 | 1,022 | 1,226 | ... | ... | ... | ... |
| By sector | ||||||||
| Sovereigns | 2,633 | 2,686 | 2,467 | 2,284 | ... | ... | ... | ... |
| Financial firms | 5,709 | 5,000 | 3,962 | 3,259 | ... | ... | ... | ... |
| Non-financial firms | 7,230 | 6,539 | 5,624 | 5,275 | ... | ... | ... | ... |
| Securitized products | 566 | 480 | 227 | 215 | ... | ... | ... | ... |
| Multiple sectors | 4,879 | 4,756 | 4,117 | 3,564 | ... | ... | ... | ... |
| By location of counterparty | ||||||||
| Home country | 4,091 | 3,734 | 3,423 | 3,510 | ... | ... | ... | ... |
| Abroad | 16,929 | 15,728 | 12,976 | 11,087 | ... | ... | ... | ... |
| United States | 4,486 | 4,014 | 3,412 | 3,162 | ... | ... | ... | ... |
| European developed | 10,871 | 10,173 | 8,205 | 6,782 | ... | ... | ... | ... |
| Japan | 162 | 151 | 117 | 116 | ... | ... | ... | ... |
| Other Asian countries | 170 | 148 | 127 | 100 | ... | ... | ... | ... |
| Latin America | 780 | 785 | 686 | 607 | ... | ... | ... | ... |
| All other countries | 461 | 458 | 430 | 320 | ... | ... | ... | ... |
| Unallocated | 25,496 | 24,815 | 22,573 | 19,837 | 724 | 671 | 803 | 597 |
| Gross credit exposure | ... | ... | ... | ... | 3,033 | 2,826 | 3,356 | 2,870 |
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