Big banks lead on XVA optimisation as smaller dealers lag, Risk data show

Key facts

• Two-thirds of global dealers run routine XVA optimisation, Risk data show.
• 13% of smaller players run routine XVA optimisation, according to the same data.
• Formal optimisation remains concentrated among bigger dealers with centralised XVA desks, the report said.

Two-thirds of global dealers run routine optimisation of derivatives valuation adjustments (XVA) to reduce capital and counterparty exposures on swaps books, compared with 13% of smaller players, according to data from Risk published on November 4, 2026. The report said formal optimisation remains the preserve of bigger dealers with centralised XVA desks. The article is part of a series benchmarking bank XVA management practices and is behind a subscription paywall, so the survey's sample, methodology and definitions were not visible.