Among the key findings are some impressive figures: the derivatives market has grown strongly by around 24 percent p.a. over the last decade into a size of 457 trn EUR by notional amount outstanding today. Europe plays a leading role with 44 percent global market share. The market consists of two segments:
over-the-counter trading accounts for 84 percent and on-exchange trading for 16 percent of the notional amount outstanding.
As a main conclusion, structural changes in the framework under which the derivatives market operates today in a global environment are not necessary. In contrast to other financial market segments, e.g. structured credit-linked securities, the derivatives market has proven resilient and reliable during recent market turmoil. The major economic function of efficient risk allocation is effectively fulfilled and especially the on-exchange segment strengthens financial market integrity with Central Counterparty clearing services that provide effective risk management.
The White Paper is primarily intended to provide the interested reader with a sound understanding of the subject matter. A copy of the White Paper can be downloaded from the websites of Deutsche Börse and Eurex:
http://www.deutsche-boerse.com, http://www.eurexchange.com.