Outstanding notional on CDSs drops

The Bank for International Settlements (BIS) has released statistics for the over-the-counter derivatives market, which reveal that although the overall market continues to grow, the outstanding notional on credit default swaps (CDSs) declined by 1%. According to the figures, released on November 13, the notional outstanding for all derivatives contracts stood at $683.7 trillion at the end of June, 15% higher than at the end of 2007. Gross market values - the cost of replacing existing contr