Asia sees rise in rates and FX derivatives, says BIS


Continued economic recovery and robust financial market activity ensured that Japan's share of global trading in over-the-counter (OTC) interest rate and currency derivative contracts grew quickly in the past three years, according to the Bank of International Settlements (BIS) Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in 2007 report.

Japan, the world's fourth largest derivatives trading centre, saw average daily turnover of derivatives contracts jump to $8