CDS trading soars in H2 2007

The credit default swap market grew strongly in the second half of last year, according to figures from the Bank for International Settlements.

The BIS's latest survey of the over-the-counter derivatives market found that outstanding OTC derivatives now totalled $596 trillion notional at the end of the year, up 15% from the figure six months earlier. As credit conditions worsened, CDS volumes rose 36% to $58 trillion notional outstanding, although this still represented a slowdown from the 49% gr