Combining as it does real estate risk and derivative risk, the property derivatives market has not surprisingly had a tough time of late. In the first quarter of 2007 business was booming, with £2.9 billion of trades. But times have changed. Global volumes were £708 million for the second quarter this year – a modest rise from £606 million for the first quarter. A total of 159 trades were executed with an average outstanding size of £7 million.
The UK makes up the lion’s share of the market, accounting for £554 million of the total in the first quarter and £606 million in the second.
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