The derivatives market shrank for the first time ever in H2 2008, falling 13.4% to $592T,...

|By:, SA News Editor
The derivatives market shrank for the first time ever in H2 2008, falling 13.4% to $592T, according to a report today from the Bank for International Settlements. But gross market value was up 66.5% to $33.9T, which represents the cost of replacing all existing contracts, and may be a better measure of true market risk than the headline 'notional' number.