International finance through the lens of BIS statistics: derivatives markets

Stefan Avdjiev, Patrick McGuire and Goetz von Peter

BIS Quarterly Review, 2025

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.

JEL-codes: F31 G13 G15 G21 (search for similar items in EconPapers)
Date: 2025
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