Lisa Cesarano, Kennedy & Company, (914) 961-2436; lisa@kennedycom.com
NEW YORK, Monday, April 2, 2001 – Global OTC derivatives volumes increased by 8.14% in the year ending December 31, 2000, according to the latest survey conducted by the International Swaps and Derivatives Association (ISDA).
Volumes globally totaled $63.009 trillion at year-end, from $60.366 trillion reported for the first half of the year, representing a 4.38% growth rate in the second half of 2000. Among the top ten firms, the market grew by 5.01% from $32.440 trillion to $34.064 trillion between mid-year and year-end 2000.
Measured in notional principal outstanding amounts, the survey tracks market growth in interest rate swaps, interest rate options and currency swaps, as reported by ISDA’s member organizations.
“Continuing growth in interest rate and currency products
demonstrates the need for effective tools to manage potentially adverse
economic movements,” said Thomas K. Montag,
vice-chairman of ISDA and chair of the Association’s Market Survey Committee.
Mr. Montag is a managing director and global head of
interest rate products at Goldman Sachs, based in
The survey, which is compiled twice yearly by Arthur Andersen LLP, is performed on a confidential basis and produces a headline statistic. This is complemented by the more comprehensive survey produced quarterly by the Bank for International Settlements. Figures in the ISDA survey represent the outstanding notional volumes of 105 member institutions, of which 72 were participants in the previous semi-annual survey.
ISDA members are set to convene later this week at the
Association’s Annual General Meeting, taking place at the Omni Shoreham Hotel
in