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International finance through the lens of BIS statistics: derivatives markets

Author

Listed:
  • Stefan Avdjiev
  • Patrick McGuire
  • Goetz von Peter

Abstract

Financial derivatives are a linchpin of the global financial system, enabling market participants to hedge exposures, engage in speculative strategies and arbitrage across markets. This article reviews how the BIS derivatives statistics can be used to examine the size and structure of derivatives markets for different risk categories. Through the lens of these statistics, the article sheds light on key transformations in derivatives markets, including the transition to risk-free rates in interest rate derivatives and the growing use of foreign exchange derivatives to facilitate global portfolio flows. These developments underscore the evolving data needs of policymakers and analysts to track emerging vulnerabilities.

Suggested Citation

  • Stefan Avdjiev & Patrick McGuire & Goetz von Peter, 2025. "International finance through the lens of BIS statistics: derivatives markets," BIS Quarterly Review, Bank for International Settlements, December.
    • Handle: RePEc:bis:bisqtr:2512d
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    More about this item

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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