A research study on derivatives markets published by the European Securities and Markets Authority (ESMA) has found that EU’s derivatives markets amounted to €660tn of gross notional outstanding transactions by 31 December 2017.
The first Annual Statistical Report on the European Union’s (EU) derivatives markets was based on data submitted under the European Markets and Infrastructure Regulation (EMIR). Its main goal is to contribute to ESMA’s risk assessment, to facilitate entity oversight by supervisory authorities, both national and European, and enhance supervisory convergence.
Steven Maijoor, Chair of ESMA, said:
“The data gathered by ESMA as part of its EMIR responsibilities provides us with an unprecedented level of detail on derivatives transactions and exposures. In addition to allowing us to quantify the size of the market, at €660tn, it also allows us to observe that derivatives clearing rates are increasing significantly, showing that the EMIR clearing obligation works and is having the desired impact.”
According to the report, trade repositories reported a total of 74mn open transactions amounting to a gross notional outstanding of around EUR 660tn, including both over the counter (86% of the total) and exchange traded derivatives (14%) at the end of 2017.
