Regular Derivatives Market Statistics in Japan at end-December 2024
March 13, 2025
Bank of Japan
Financial Markets Department
The Bank of Japan has released "Regular Derivatives Market Statistics in Japan (end-December 2024)."
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-December 2024 were $78.8 trillion for over-the-counter (OTC) contracts (an increase of 11.8% from end-June 2024), and $3.7 trillion for exchange-traded contracts (a decrease of 5.7%).
2. Breakdown of notional amounts outstanding of OTC contracts
(1) By risk factor
The notional amounts outstanding of OTC contracts were $68.6 trillion for single currency interest rate (IR) contracts (an increase of 13.3%), $9.4 trillion for foreign exchange (FX) contracts (an increase of 3.8%), and $0.5 trillion for credit derivatives contracts (an increase of 5.8%).
(2) By currency
With regard to IR contracts, U.S. dollar-denominated contracts were at $28.1 trillion (an increase of 13.8%), Japanese yen-denominated contracts stood at $23.7 trillion (an increase of 19.8%), and euro-denominated contracts were at $11.9 trillion (an increase of 8.0%). As for FX contracts, U.S. dollar-denominated contracts were at $4.3 trillion (an increase of 4.9%), Japanese yen-denominated contracts stood at $2.1 trillion (an increase of 6.3%), and euro-denominated contracts were at $1.0 trillion (a decrease of 0.9%).
(3) By counterparty
With regard to IR contracts, transactions stood at $6.6 trillion with "reporting dealers" (a decrease of 3.4%), $48.3 trillion with CCPs (an increase of 17.0%), and $11.9 trillion with "other financial institutions (without CCPs)" (an increase of 11.3%). As for FX contracts, transactions were at $6.2 trillion with "reporting dealers" (an increase of 1.6%), $0.4 trillion with CCPs (an increase of 32.3%), and $1.9 trillion with "other financial institutions (without CCPs)" (an increase of 6.7%).
(4) By remaining maturity
With regard to IR contracts, transactions stood at $20.0 trillion with a remaining maturity of "over five years" (an increase of 5.9%), $25.8 trillion with a remaining maturity of "over one year and up to five years" (an increase of 9.4%), $22.8 trillion with a remaining maturity of "one year or less" (an increase of 26.0%). As for FX contracts, transactions were at $0.8 trillion with a remaining maturity of "over five years" (a decrease of 0.2%), $2.3 trillion with a remaining maturity of "over one year and up to five years" (a decrease of 4.9%), and $6.4 trillion with a remaining maturity of "one year or less" (an increase of 7.9%).