Regular Derivatives Market Statistics in Japan at end-June 2025
September 10, 2025
Bank of Japan
Financial Markets Department
The Bank of Japan has released "Regular Derivatives Market Statistics in Japan (end-June 2025)."
The summary of the results is as follows.
1. Notional amounts outstanding of derivatives contracts
The notional amounts outstanding of derivatives contracts by major Japanese financial institutions at end-June 2025 were $85.6 trillion for over-the-counter (OTC) contracts (an increase of 8.7% from end-December 2024), and $3.8 trillion for exchange-traded contracts (an increase of 1.5%).
2. Breakdown of notional amounts outstanding of OTC contracts
(1) By risk factor
The notional amounts outstanding of OTC contracts were $73.8 trillion for single currency interest rate (IR) contracts (an increase of 7.7%), $10.6 trillion for foreign exchange (FX) contracts (an increase of 12.2%), and $0.9 trillion for credit derivatives contracts (an increase of 70.1%).
(2) By currency
With regard to IR contracts, U.S. dollar-denominated contracts were at $26.8 trillion (a decrease of 4.4%), Japanese yen-denominated contracts stood at $24.3 trillion (an increase of 2.5%), and euro-denominated contracts were at $16.1 trillion (an increase of 35.3%). As for FX contracts, U.S. dollar-denominated contracts were at $4.9 trillion (an increase of 12.0%), Japanese yen-denominated contracts stood at $2.3 trillion (an increase of 6.4%), and euro-denominated contracts were at $1.2 trillion (an increase of 21.1%).
(3) By counterparty
With regard to IR contracts, transactions stood at $7.2 trillion with "reporting dealers" (an increase of 8.5%), $53.7 trillion with CCPs (an increase of 11.1%), and $11.0 trillion with "other financial institutions (without CCPs)" (a decrease of 7.2%). As for FX contracts, transactions were at $7.0 trillion with "reporting dealers" (an increase of 13.9%), $0.4 trillion with CCPs (an increase of 1.8%), and $2.1 trillion with "other financial institutions (without CCPs)" (an increase of 11.0%).
(4) By remaining maturity
With regard to IR contracts, transactions stood at $21.6 trillion with a remaining maturity of "over five years" (an increase of 8.1%), $27.3 trillion with a remaining maturity of "over one year and up to five years" (an increase of 5.7%), $24.9 trillion with a remaining maturity of "one year or less" (an increase of 9.6%). As for FX contracts, transactions were at $0.9 trillion with a remaining maturity of "over five years" (an increase of 9.0%), $2.5 trillion with a remaining maturity of "over one year and up to five years" (an increase of 9.4%), and $7.2 trillion with a remaining maturity of "one year or less" (an increase of 13.5%).