ISDA launches repo market indicators for September
28 October 2026 US
Image: Alokya/stock.adobe.com
The International Swaps and Derivatives Association (ISDA) has published the latest ISDA-Actrix US Treasury Repo Market Clearing Indicators for September 2026.
According to the report, total cleared repo average daily volume reached US$7.7 trillion in September 2026, representing a 1.8 per cent increase from August 2026.
Total sponsored cleared repo activity increased by 2.4 per cent month-on-month to US$2.4 trillion. Sponsored activity accounted for 31 per cent of total cleared repo activity during September.
The report also reveals that sponsored cleared bilateral repo volumes totalled US$1.6 trillion in September 2026, up 1.5 per cent from the previous month.
Meanwhile, sponsored cleared triparty repo volumes reached US$0.8 trillion, marking a 4.3 per cent increase compared with August 2026.
Direct cleared repo activity, which typically represents dealers that are direct clearing members, rose by 1.5 per cent month-on-month to US$5.3 trillion.
The reports are published monthly and are designed to provide visibility into the adoption of central clearing in the US Treasury repo market.
Sponsored cleared repo volumes are used as an indicator of client participation in central clearing, a key objective of the US Securities and Exchange Commission's (SEC’s) Treasury clearing mandate.
The report provides ongoing insight into clearing adoption ahead of the SEC's US Treasury repo clearing requirements, which are due to take effect from 30 June 2027.
According to the report, total cleared repo average daily volume reached US$7.7 trillion in September 2026, representing a 1.8 per cent increase from August 2026.
Total sponsored cleared repo activity increased by 2.4 per cent month-on-month to US$2.4 trillion. Sponsored activity accounted for 31 per cent of total cleared repo activity during September.
The report also reveals that sponsored cleared bilateral repo volumes totalled US$1.6 trillion in September 2026, up 1.5 per cent from the previous month.
Meanwhile, sponsored cleared triparty repo volumes reached US$0.8 trillion, marking a 4.3 per cent increase compared with August 2026.
Direct cleared repo activity, which typically represents dealers that are direct clearing members, rose by 1.5 per cent month-on-month to US$5.3 trillion.
The reports are published monthly and are designed to provide visibility into the adoption of central clearing in the US Treasury repo market.
Sponsored cleared repo volumes are used as an indicator of client participation in central clearing, a key objective of the US Securities and Exchange Commission's (SEC’s) Treasury clearing mandate.
The report provides ongoing insight into clearing adoption ahead of the SEC's US Treasury repo clearing requirements, which are due to take effect from 30 June 2027.
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