Futures and options trading reached record levels in 2002, according to data gathered from 56 exchanges worldwide by the Futures Industry Association (FIA).
The total number of contracts traded in 2002 was 36.8 per cent higher at 5.99 billion compared to 1.61 billion contracts in the previous year.
The aggregate turnover in the futures segment reached 2.19 billion, up 21.7 per cent over the previous year. However, options trading grew more rapidly, rising 47.3 per cent to 3.80 billion contracts in the same period.
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The FIA data covers all types of exchange-traded derivatives, including futures, options on futures, and options on securities. In previous years, the FIA did not include individual stock options in its survey of global volume trends.
Interestingly, the surge in volumes was all encompassing, but the category registering the biggest rise was the equity index derivatives such as index options, index futures and options on index futures.
In 2002, the global turnover in this category surged 86.2 per cent to 2.79 billion contracts worldwide, and the absolute increase