Interest rate ETD volumes up 40% from 2020 nadir

Shorter-dated contracts push total open interest higher

Notionals for exchange-traded derivatives (ETD) on interest rates rebounded 40.2% year on year in the second quarter, Bank for International Settlements (BIS) data shows.

The notional value for futures and options globally – both long and short term – totalled $86.8 trillion at end-June, up from $61.9 trillion 12 months prior.

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The bulk of the yearly increase came from a surge of open interest in short-term options, which stood at $52.6 trillion, up 73% over the period. Long-term