Bank of Canada Workshop on Derivatives Markets in Canada and Beyond

Toni Gravelle
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Toni Gravelle: Bank of Canada, http://www.bankofcanada.ca/

Bank of Canada Review, 2007, vol. 2007, issue Autumn, pages 38-46

Abstract: At this 2006 workshop hosted by the Bank of Canada, an international group of market participants, regulators, and policy-makers gathered to assess recent developments in the derivatives market. Among the topics discussed were the recent prodigious growth in risk-transfer instruments, including credit derivatives and inflation-linked derivatives, as well as the accompanying challenges and benefits. Overall, the development of derivatives markets was seen as providing broad economic benefits, including more complete financial markets, improved market liquidity, and increased capacity of the financial system to effectively price and bear risk. Yet concern was also voiced that market participants do not fully understand the risks that arise in trading credit derivatives.

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