September 4, 2023 (NO COMMENTS)

Swedbank leads dealers in secular trend towards clearing space

The proportion of over-the-counter derivatives cleared through central counterparties (CCPs) across major European banks ticked higher in 2022 for the fourth consecutive year. Analysis of a steady sample of 29 banks shows they held €181.38 trillion ($197.1 trillion) notional as of the end of last year. Of this, 66.5% was cleared, versus 65.1% in 2021 and 64.2% in 2020. By far the largest yearly swing in the proportion of cleared derivatives was at Swedbank, which went from being the