Current Bulletin
Figure 1. Gross market value and notional value of global derivatives outstanding, 1998-2006. Data, plotted as curves, show the following approximate values in U.S. dollars. The gross market value starts at $2.6 trillion in mid-1998, generally moves higher to reach almost $8 trillion in mid-2003, falls to $6.4 trillion in mid-2004, then rises to $10.6 trillion in mid-2005, then generally declines to $10.1 trillion by mid-2006. The notional value begins at $86.9 trillion in mid-1998 and rises to reach $454.3 trillion in mid-2006.
Note: The data are semiannual and extend through June 2006. Gross market value is the sum of the total gross positive market value of contracts with all counterparties and the absolute value of the total gross negative market value of contracts with nonreporting counterparties. The term gross indicates that for multiple contracts with the same counterparty, contracts with positive market values and contracts with negative market values are not netted. For an explanation of notional value, refer to text note 1. To adjust for double counting, the notional values of contracts with reporting counterparties are divided by 2.
Source: Bank for International Settlements.