ISDA publishes credit derivatives trading activity report for H1 and Q2 of 2025
The International Swaps and Derivatives Association (ISDA) has published its Credit Derivatives Trading Activity in the EU, UK and US Markets report which provides an analysis of credit derivatives trading activity reported in Europe for the first half of 2025 (H1 2025) and second quarter of 2025 (Q2 of 2025). The report shows that in H1 2025, the UK accounted for 77.4% of European credit default swap (CDS) trading, while the EU made up 22.6%. Across the EU, UK and US, the UK contributed 26% of total CDS traded notional, the EU 7.6% and the US 66.5%. The UK dominated European single-name CDS activity with 98.3%, compared to 1.7% in the EU. Overall, the UK handled 60.8% of single-name CDS trades and the US 38.2%.