Research and analysis using the BIS derivatives statistics
Publications featured on this page have been selected for their particular relevance to the BIS derivatives statistics. They include working papers, articles from BIS Quarterly Reviews and the latest statistical commentary.
OTC derivatives statistics at end-June 2024
November 2024 / Statistical commentary
Developments in latest data using the BIS derivatives statistics
(Archive of commentaries)
Bank positions in FX swaps: insights from CLS
September 2023 / BIS Quarterly Review
Data from CLS and BIS reveal how banks use interbank FX swaps to serve customers, hedge and arbitrage
Selected publications
Jun 2024 | International finance through the lens of BIS statistics: the global reach of currencies Describes how BIS statistics have a currency dimension, enabling users to track how key currencies are used in international banking and bond markets, and in foreign exchange and derivatives markets |
Sep 2023 | Bank positions in FX swaps: insights from CLS Data from CLS and BIS reveal how banks use interbank FX swaps to serve customers, hedge and arbitrage |
Dec 2022 | The post-Libor world: a global view from the BIS derivatives statistics The Libor transition led to structural changes in over-the-counter interest rate derivatives |
Dec 2022 | The global foreign exchange market in a higher-volatility environment The 2022 BIS Triennial Survey shows increased turnover amid elevated volatility, with more interdealer trading but fairly stagnant customer volumes |
Dec 2022 | The internationalisation of EME currency trading FX trading in EME currencies is increasingly internationalised, as most trades involve a counterparty outside the currency-issuing country |
Dec 2022 | Dollar debt in FX swaps and forwards: huge, missing and growing Dollar obligations from FX swaps were backstopped in 2008 and 2020 by central banks with little information about who owed the debt |
Dec 2022 |
FX settlement risk: an unsettled issue |
Dec 2021 |
Outward portfolio investment and dollar funding in emerging Asia |
Dec 2019 |
FX and OTC derivatives markets through the lens of the Triennial Survey |
Dec 2019 |
Sizing up global foreign exchange markets |
Dec 2019 |
FX trade execution: complex and highly fragmented |
Dec 2019 |
Offshore markets drive trading of emerging market currencies |
Dec 2019 |
The evolution of OTC interest rate derivatives markets |
Dec 2019 |
OTC derivatives: euro exposures rise and central clearing advances |
Aug 2019 |
Geographic spread of currency trading: the renminbi and other EM currencies |
Jun 2018 | The credit default swap market: what a difference a decade makes Documents how outstanding amounts of CDS contracts have fallen, central clearing has risen and the composition of underlying credit risk exposures has evolved |
Jun 2017 | Central clearing makes further inroads Summarises what the OTC derivatives statistics show about the importance of central clearing |
Mar 2017 | The bond benchmark continues to tip to swaps Analyses the shift from government bond futures to interest rate swaps for hedging and positioning at the long end of the yield curve |
Mar 2017 | Comparison of BIS derivatives statistics Describes the derivatives statistics collected by the BIS, highlights overlaps in coverage and analyses key differences in definitions |
Dec 2016 | Downsized FX markets: causes and implications Identifies factors that contributed to a decline in spot trading in foreign exchange markets and a rise in FX derivatives trading |
Dec 2016 | The changing shape of interest rate derivatives markets Analyses structural shifts in interest rate derivatives markets |
Dec 2016 | Emerging derivatives markets? Examines the evolution of markets for derivatives referencing emerging market exchange rates and interest rates |
Dec 2016 | Non-deliverable forwards: impact of currency internationalisation and derivatives reform Analyses developments in the market for non-deliverable forwards |
Sep 2015 | Revisions to BIS exchange-traded derivatives statistics Introduces newly published data about interest rate and foreign exchange derivatives traded on exchanges |
Dec 2013 | The anatomy of the global FX market through the lens of the 2013 Triennial Survey Explains the structural drivers and trends behind the growth of foreign exchange trading |
Dec 2011 | Enhanced BIS statistics on credit risk transfer Analyses the risks transferred through credit default swaps by different groups of counterparties |
Dec 2010 | Counterparty risk and contract volumes in the credit default swap market Reviews the growth and contraction of the credit default swap market |
Dec 2010 | A user's guide to the Triennial Central Bank Survey of foreign exchange market activity Summarises what data are collected in the Triennial Survey and explains methodological issues that are important for interpreting these data |
Sep 2009 | Credit risk transfer statistics Explores how to enhance statistics on credit risk transfer instruments |
Jul 1996 | Proposals for improving global derivatives market statistics Establishes a framework for the regular collection of statistics on OTC derivatives markets |