The article in May on Derivatives Volumes probably gets the most hits on this site, so I have been meaning to update them for a while as they were interim figures. The BIS has now released the finalised figures and the results can be seen graphically below:



In more detail these are:

US$Bns	Dec-04	Jun-05	Dec-05	Jun-06	Dec-06
Forex	29,289	31,081	31,364	38,091	40,179
Interest Rates	190,502	204,795	211,970	261,960	291,987
Equity Linked	4,385	4,551	5,793	6,782	7,485
Commodity	1,443	2,940	5,434	6,394	6,938
CDS	6,396	10,211	13,908	20,352	28,838
Unallocated	25,879	27,915	29,199	35,928	39,755
Totals	257,894	281,493	297,668	369,507	415,182

US$Bns	Dec-03	Dec-04	Dec-05	Mar-07
ETD Futures	13,753	18,904	21,610	30,353
ETD Options	23,034	27,689	36,187	56,670

Again I think the figures are pretty remarkable. A Total Notional outstanding that is now nudging half a trillion dollars. To me the highlights are continued (42%) rise in credit derivatives matching the 46% rise in the first half of the year, but the surprise was that the currency breakdown of these figures (not shown here) does not seem to support the view that OTC contracts were being driven by carry trades. The ETD volumes however do show this with turnover in listed FX derivatives rising 26% (the largest rise being in NZD), as the turbulence in march booste growth in both FX and equity ETDs. Clearly what has been happening in the last month will similarly have an effect on volumes when the next dataset is released.

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