

Record share of OTC trades eschews interdealer, CCP channels
More than one-fourth of global notional involves a single dealer and is not cleared, BIS data shows
A record share of over-the-counter derivatives notional sat outside the interdealer or centrally cleared spaces at end-June 2024, reducing regulators’ visibility in the market at a time of persisting volatility.
Of the record $727.1 trillion notional amount held by dealers in Bank for International Settlements member countries, 26.2% had a counterparty other than another reporting dealer or a central counterparty (CCP) – the highest proportion in eight years’ worth of data, up from 24.4% a year
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