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Outline of "Regular Derivatives Market Statistics"

September 2020
Bank of Japan
Financial Markets Department

I. Statistical framework

The Regular Derivatives Market Statistics consist of data on consolidated outstanding derivatives positions, measured in notional amounts as well as gross positive and negative market values, compiled based on data from reporting institutions. About 70 financial institutions worldwide contribute to the statistics by reporting their derivatives positions semiannually to the central banks of their respective countries. Among them, 16 institutions are based in Japan and report their position data to the Bank of Japan.

The statistics classify aggregated derivatives positions into the following six risk categories: foreign exchange; interest rates; equity prices; commodity prices; credit; and other derivatives (on a U.S. dollar basis). Each of the risk categories is broken down further into four factors: instrument; currency (region); counterparty; and maturity.

II. Purpose of the statistics

The central banks of the Group of Ten countries1 and the BIS have worked together to introduce a new statistical survey on the global derivatives markets based on the "Proposals for Improving Global Derivatives Market Statistics" (the Yoshikuni Report) published by the BIS in July 1996.

With the aim of increasing market transparency and facilitating central banks' monitoring of these markets with regard to macroprudential concerns, the BIS has implemented this survey on the global derivatives markets through two reporting frameworks. The first is the Semiannual OTC Derivatives Statistics, a set of derivatives statistics on the amounts outstanding of derivatives transactions covering only major dealers, first conducted at end-June 1998. The Bank of Japan releases survey results of the statistics for Japan as the Regular Derivatives Market Statistics in Japan. The results on a global consolidated basis are released separately by the BIS.2

The second framework is the Triennial Central Bank Survey, a survey on foreign exchange and derivatives turnover and amounts outstanding, which covers a wider range of dealers.

  1. (Note 1) Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States. Australia and Spain began contributing to the survey in December 2011, while Belgium stopped reporting in the survey in December 2016, bringing the number of reporting countries to 12.
  2. (Note 2) Please refer to the BIS's website (https://www.bis.org/statistics/about_derivatives_stats.htm) (Link to an external website) for the global results.