Isda and BIS surveys highlight market growth

Two differing perspectives on the strong growth of the over-the-counter derivatives market were offered last month in the shape of the preliminary global results of the Bank for International Settlements' (BIS) triennial central bank survey of foreign exchange and derivatives market activity for 2007, and the International Swaps and Derivatives Association's mid-year 2007 market survey.

"Privately negotiated derivatives activity remained robust during the first half of 2007, with credit and