Number of contracts traded
18.5 bn +8.9%
The growth in number of contracts traded is mostly due to the growth of volumes of stock index options and futures, as well as ETF options, confirming the trend observed in 2010.
Given the high volatility of markets in 2011, this increase in derivatives volumes seems logical as hedging needs were probably driven upwards by volatility. The relative preference for indices or ETFs underlyings compared to single stocks could also be interpreted similarly. Interest rates derivatives confirmed the rebound observed in 2010 and continued to grow in 2011 despite factors generically seen as unfavorable (low interest rates environments, no economic growth and credit expansion) in certain regions.