With volumes reaching record levels despite unprecedented widening in spreads, the end of 2007 and beginning of 2008 might eventually be the period when the market came of age.
Volumes traded in 2007 reached £7.21 billion compared with £3.88 billion in 2006 and there is now £9 billion in notional trades outstanding. Trades in the fourth quarter of 2007 reached £1.662 billion – with 214 contracts being traded, the highest number ever – compared with £1.66
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