Efforts to bring greater transparency to global derivatives markets in the wake of the financial crisis seem to be paying off, if the latest statistics from the Bank of International Settlements are to be believed. The number of deals going through clearing houses and organised trading platforms will delight international regulators.

In its triennial survey on foreign exchange and derivatives market activity, the BIS revealed that the amount of interest rate derivatives trades completed on exchanges increased by more than a third over the last three years.