Derivatives trading halved amid CrowdStrike tech outage
With broker screens offline, G3 rates derivatives volumes plunged versus a normal Friday
Interest rate derivatives trading fell by more than half of typical volumes last Friday (July 19) after global tech outages caused by a faulty update from cybersecurity firm CrowdStrike disrupted markets and two interdealer broker pricing feeds went offline.
Activity reported to the swap data repository (SDR) maintained by the Depository Trust & Clearing Corporation (DTCC) confirms trader reports of quiet markets amid the outages, with linear and non-linear rates markets both hit hard.
Early
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