The average daily turnover of over-the-counter (OTC) derivatives traded in Australia grew between 2001 and 2022, increasing from 9.8 billion U.S. dollars in 2001 to 112.7 billion U.S. dollars in 2019. The most common instrument traded in every period except 2001 was interest rate swaps. Moreover, much of the overall growth can be attributed to the increased turnover of interest rate swaps, which increased from less than half of the total turnover in 2001 to around 90 percent by the late 2010s.
Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022
(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. (May 2, 2023). Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/
Bank for International Settlements. "Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022 (in million U.S. dollars)." Chart. May 2, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/
Bank for International Settlements. (2023). Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/
Bank for International Settlements. "Average Daily Turnover of Over-the-counter Fras, Swaps, and Options in Australia from 2001 to 2022 (in Million U.S. Dollars)." Statista, Statista Inc., 2 May 2023, https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/
Bank for International Settlements, Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/ (last visited December 21, 2024)
Average daily turnover of over-the-counter FRAs, swaps, and options in Australia from 2001 to 2022 (in million U.S. dollars) [Graph], Bank for International Settlements, May 2, 2023. [Online]. Available: https://www.statista.com/statistics/1275656/average-daily-turnover-otc-interest-rate-derivatives-instrument-australia/
