The British Bankers’ Association’s Credit Derivatives Report 2005/06 was unveiled at the BBA’s third annual credit derivative conference held in London on September 21. In 2004 the BBA survey predicted that the global credit derivative market in 2006 would be $8.2 trillion but it is actually $20.2 trillion.
Claude Brown, partner at Clifford Chance, who drew up the documentation on some of the very first credit derivatives in 1991, was first to address the conference. He pointed out that a modest prediction of prospects for credit derivatives is not a...
