# CDS volumes fall in H1 2008

The notional amount of outstanding credit derivatives dropped by 12% to $54.6 trillion at the end of June 2008, from$62.2 trillion at the end of 2007, according to the mid-year market survey from the International Swaps and Derivatives Association.

"This decrease primarily reflects the industry's efforts to reduce risk by tearing up economically offsetting transactions, and demonstrates the industry's ongoing commitment to reduce risk and enhance operational efficiency. We expect to see more ef

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