Below is a summary of the most important statistics from the British Bankers' Association's 2001/2002 survey of the global credit derivatives market.
| Key Survey Statistics 2001/2002 | |||
| 2001 | 2002 | 2004 | |
| Figures in USD billions | |||
| Global Market Size | 11,899 | 1,952 | 4,799 |
| London Market Size | 578 | 1,036 | 2,450 |
| London's Percentage | 49 | 53 | 51 |
| Of The Global Market | |||
| 2001 | 2004 | ||
| Percent Of Market Share | |||
| Banks As Protection Buyers | 52 | 47 | |
| Securities Houses As Protection Buyers | 21 | 17 | |
| Hedge Funds As Protection Buyers | 12 | 13 | |
| Banks As Protection Sellers | 39 | 32 | |
| Insurers As Protection Sellers | 33 | 33 |
| The Underlying Reference Entity | ||
| End Of 2001 | End Of 2004 | |
| Percent | Percent | |
| Sovereign Assets (Non-Emerging Market) | 6 | 7 |
| Sovereign Assets (Emerging Market) | 9 | 10 |
| Corporate Assets | 60 | 59 |
| Financials | 22 | 22 |
| Other | 3 | 2 |
| What Are The Constraints On The Growth Of The London Market? (Ranked In Order Of Importance) | ||
| Constraints | 1999/2000 Survey | 2001/2002 Survey |
| Regulatory Risks (e.g. Basel II) | 3 | 1 |
| Lack Of Client Knowledge | 2 | 2 |
| Lack Of Market Liquidity And Depth | 1 | 3 |
| Systems/Infrastructure | 6 | 4 |
| Lack Of Homogenous Documentation | 4 | 5 |
| Pricing—Lack Of Default/Correlation Data | 5 | 6 |
| Lack Of Agreed Accounting Conventions | 7 | 7 |
| Tenor Of Institutions' Outstanding Transactions In Credit Derivatives | |
| Maturity | Percent |
| 1-3 Months | 2 |
| 3-12 Months | 7 |
| Over 1 Year-Below 5 Years | 41 |
| 5 years | 36 |
| Over 5-10 Years | 9 |
| Over 10 Years | 5 |
| What Proportion Of The Global Credit Derivative Market Is/Will Be Accounted For By These Products? (Percent Of Notional Value) | ||||
| 1999/2000 Survey | 2001/2002 Survey | |||
| End Of 1999 | End Of 2002 | End Of 2001 | End Of 2004 | |
| Single-Name Credit-Default Swaps | 38 | 37 | 45 | 43 |
| Portfolio Products/CDOs | 18 | 18 | 22 | 26 |
| Credit-Linked Notes | 10 | 11 | 8 | 8 |
| Total-Return Swaps | 11 | 10 | 7 | 6 |
| Asset Swaps | 12 | 11 | 7 | 5 |
| Credit-Spread Options | 5 | 6 | 5 | 6 |
| Basket Products | 6 | 7 | 6 | 6 |
| How Credit Derivatives Are Used | |
| Ranking In 2001 | Predicted Ranking In 2004 |
| Trading/Market Making | Trading/Market Making |
| Management Of Individual Credit Lines | Active Portfolio/Asset Management |
| Management Of Regulatory Capital/Risk Weighted Assets | Management Of Economic Capital |
| Product Structuring | Product Structuring |
| Active Portfolio/Asset Management | Management Of Individual Credit Lines |
| Hedging Trading Instruments | Hedging Trading Instruments |
| Management Of Economic Capital | Management Of Regulatory Capital/Risk Weighted Assets |
