Aggregate trading in exchange-traded financial derivatives rebounded strongly in the first quarter of 2003 compared to the previous quarter, according to the most recent Quarterly Review from Bank for International Settlements (BIS).
In particular, transactions in interest rate contracts expanded by 18% to $179.8 trillion, said BIS, compared to a decline of 13% in the fourth quarter of last year. The most notable area of activity was trading in Europe, where turnover...