UK-based corporates have the highest usage, with all 35 surveyed companies using derivatives. In the US, 94% of the 196 companies questioned said they use derivatives, the same percentage as German corporates. French and Japanese companies followed closely behind, with 92% and 91% respectively using derivatives.
"We weren’t very surprised by the results," said Keith Bailey, managing director of Merrill Lynch and chairman of Isda. "It is a very compelling endorsement of the product by the largest companies in the world, and shows it is very important to use derivatives in a competitive environment."
The survey will be released on an annual basis, and may include further information in future, including volumes outstanding and product breakdown.