BIS review reveals slowing growth in OTC derivatives
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A semi-annual review of the OTC derivatives market by the Basel-based Bank for International Settlements (BIS) found that notional amounts outstanding of FX derivatives contracts reached just over $40 trillion by December 2006, up from $38 trillion at end of June.
Market analysts said the figures reflect the quieter market conditions in the second half of the year. “The market saw a large bout of risk aversion and US dollar weakness in April and May last year, creating a spike in hedging
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