# BIS reports FX options surge

The total notional amount of FX options in H2, 2003 was $5.7 trillion, compared with$3.2 trillion in H2 2002. This followed a 34% year-on-year increase in FX options use in the first half of last year to \$4.6 trillion.

Notional amounts of outstanding contracts involving the US dollar expanded by 30% from H1, while those involving the euro fell by 3%. There was a noticeable acceleration of growth in yen options, which grew by 27% compared with the previous half.

Increased activity in yen cur