The average daily turnover of over the counter (OTC) derivatives traded in the United Kingdom rose steadily from 2001, and peaked in 2019. The total value of derivative turnovers in 2019 amounted to a value of around 3.67 trillion U.S. dollars. The most common interest rate instruments traded were interest rate swaps. After only amounting to a value of 141 billion U.S. dollars in 2001, the total value of interest rate swaps in 2019 amounted to over 2.2 trillion U.S. dollars.
Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019
(in million U.S. dollars)
Over the counter (OTC) refers to foreign exchange transactions that occur outside regulated exchanges (such as the New Yok Stock Exchange or London Stock Exchange).
Forward rate agreement: an agreement for the purchase and sale of interest-bearing asset (such as a bond) at a fixed price at a point in the future;
Swap: the exchange of two different types of interest rates on the same notional principle, with one investor paying a fixed interest rate but receiving variable interest rate payments, and the other paying a variable interest rate but receiving payments based on a fixed interest rate;
Option: an agreement to purchase an interest-bearing asset at some time on the future, but with no obligation to carry out the transaction (unlike with forwards).
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Bank for International Settlements. (December 8, 2019). Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/
Bank for International Settlements. "Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019 (in million U.S. dollars)." Chart. December 8, 2019. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/
Bank for International Settlements. (2019). Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/
Bank for International Settlements. "Average Daily Turnover of Over-the-counter Fras, Swaps, and Options in The United Kingdom from 2001 to 2019 (in Million U.S. Dollars)." Statista, Statista Inc., 8 Dec 2019, https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/
Bank for International Settlements, Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/ (last visited December 23, 2024)
Average daily turnover of over-the-counter FRAs, swaps, and options in the United Kingdom from 2001 to 2019 (in million U.S. dollars) [Graph], Bank for International Settlements, December 8, 2019. [Online]. Available: https://www.statista.com/statistics/1207928/average-daily-turnover-otc-interest-rate-derivatives-instrument-uk/
