Drop in OTC derivatives turnover hits Asia
NEWS
SINGAPORE -- Over-the-counter (OTC) derivatives turnover in Singapore has fallen 44% in the past three years, the Singapore Monetary Authority (MAS) reported to the Bank for International Settlements (BIS). Average daily OTC derivatives turnover was $6.3 billion in April, a decline of US$4.9 billion from April 1998.
The MAS said European centres were more dominant in OTC derivatives trading in April 2001, when most Asian centres saw a decline in such volumes.
Hong Kong, which links its currency
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