Report outlines data on security-based swap dealers, other economic and risk analysis information

The Securities and Exchange Commission’s Division of Economic and Risk Analysis (DERA) announced it had published a new report outlining data useful to the public.

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The report focused on security-based swap dealers (SBSDs) and updated statistics and data visualizations on initial public offerings (IPOs), follow-on registered offerings, corporate bond offerings, Regulation A offerings, Regulation Crowdfunding offerings, Regulation D offerings, municipal advisors, transfer agents, SBSDs, and asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) issuances, officials said.

“We continue to provide increasing amounts of useful data to the public,” said Dr. Joshua T. White, Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis. “These updates offer insight into how our markets are functioning and increase overall transparency for investors, issuers, and the public.”

According to the report, market activity increased across several categories in 2025, including IPOs, follow-on registered offerings and the amounts raised in unregistered offerings. Officials said 374 IPOs raised more than $70 billion in proceeds in 2025, up from 246 raising $39 billion in 2024. The updated statistics show that in 2025 there were 374 IPOs raising over $70 billion in proceeds, up from 246 IPOs raising $39 billion in 2024. The number of follow-on registered offerings increased slightly in 2025, up to 34,553 compared to 32,554 in 2024, raising $2.1 trillion in 2024, and $2.4 trillion in 2025.

The report noted that there was a slight decrease in the number of corporate bond offerings in 2025, down to 1,694 from 1,795 in 2024, but the amount raised increased from $1.17 trillion to $1.25 trillion. And there were 2,320 ABS issuances in 2025, up from 2,032 in 2024. CMBS issuances were up to 348 in 2025, up from 302 in 2024.

The SEC said the information can also be found on the SEC’s public statistics and data visualizations webpage, which provides statistics to show market trends, pie charts to show distribution across different categories, and heat maps to show geographic distributions. The data is visual, interactive and downloadable to allow the public to dig in to the information.