A statement by Bloomberg said credit default and interest rate swaps comprised the “vast majority” of Bloomberg SEF transactions in its first year of operation.
“Approximately 85,000 [credit default swap] transactions totalling $3.45 trillion and 48,000 [interest rate swap] transactions totalling $3.15 trillion were executed on Bloomberg SEF in the past year,” a statement from Bloomberg said.
“More than 11,000 [foreign exchange] derivatives trades were completed for a total of $59.78 billion. Commodities derivatives were the least traded instruments, with 518 trades totalling nearly $2 billion.”
Within its first year of operation, more than 900 clients enrolled with Bloomberg SEF, including banks, asset managers, hedge funds, corporations, insurance companies and pension funds, Bloomberg said.
“More non-traditional market participants began enrolling with Bloomberg SEF as overall usage expanded,” the statement continued.
“Although request-for-quote trading still dominates the market, participants recently began using order book trading with increased frequency, with Bloomberg SEF the only swap execution facility to allow entirely anonymous order book trading.”
Bloomberg said its future global strategy includes “registering as a multilateral trading facility in Europe” to help customers comply with MiFID and EMIR guidelines, and expanding its solutions in Asia as “regulations in the region evolve”.
