Total trading volume on swap execution facilities averaged $469.3 billion per day during the month of March, which was a 5.8% increase from the previous month but a 4.2% decrease from March 2015. Below are highlights of the main trends in this month's data. Click here for the full report and related data. Rates Trading averaged $388.8 billion per day in March, which was up 6.8% from February but down 5.1% from a year ago. FRA trading averaged $211.2 billion in March, up 21.9% from February but down 8.7% from March 2015. Taking out FRAs, rates trading decreased by 6.9% from last month but remained approximately the same from last year. In terms of market share for non-FRAs, Bloomberg captured 17.5% of the market, closely followed by Tradeweb with 17.2% and Tullett Prebon with 15.0%. Credit Trading averaged $43.6 billion per day in March, up 8.0% from February, and 5.0% from March last year. Bloomberg captured 73.8% of all credit default swap trading on SEFs in March, followed by Tradeweb with 12.5% and ICE with 5.0%. FX Trading averaged $36.9 billion per day in February, a decrease of 5.5% from the previous month and 4.7% from a year ago. Average daily trading in non-deliverable forwards was $22.0 billion per day, a slight increase of 2.2% from February, and an increase of 3.6% from last year. In options trading, average volume was recorded at $14.4 billion per day, with a decrease of 14.5% from last month, and 13.9% from last year. In terms of market share, BGC led the way with 29.5%, followed by ICAP with 20.7% and Tradition with 16.2%.
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