This blog reviews the Q3 2026 D2D platform market share dynamics of major currency rates swaps risk-trading, continuing from the last quarterly edition. Key takeaways We sourced the charts and statistics from SDRView. Background Here we focus on D2D platforms’ bread-and-butter trading activity in cleared OIS and fixed float IRS. We exclude compressions to keep the focus on risk-trading. […]

We estimate Q2 2026 FX IM optimization (IMO) hedge volumes and market share, based on US-reported daily NDF volumes sourced from SDRView. Key takeaways Q2 2026 estimates indicate that: If Capitolis can overcome its late mover disadvantage, it should expect further market share gains from LSEG (London Stock Exchange Group) and OSTTRA. Background If you […]

From the end of June 2026 quarterly CPMI-IOSCO Quantitative Disclosures by clearinghouses captured by CCPView, this blog focuses on cleared IM for rates swaps, credit derivatives (CRD), and exchange-traded derivatives (ETD). Key takeaways The Q2 2026 disclosures show different IM dynamics across the three product groups: IM for cleared rates swaps Chart 1: IRS IM by […]

Eleven years after our extensively read original blog, how has the OTC CCP and the LCH SwapClear default management process evolved and what should clearing members be preparing for today? Why Revisit This Topic? Back in 2015, we discussed the mechanics of the SwapClear default management process (DMP) and the operational burden imposed on clearing […]