We must also consider how broadly the recent innovations have been adopted. Of course, the growth of OTC derivatives over the past twenty years has been spectacular and shows no obvious signs of abating.
The latest estimate by the Bank for International Settlements of the worldwide notional amount of OTC derivatives outstanding reached $ trillion in June 2002, a figure more than 25 percent larger than that recorded a year earlier. Such derivatives have become indispensable riskmanagement tools for many of the largest corporations.