Derivatives become more familiar in Irish markets

The use of derivative instruments in the Irish financial market has grown substantially in the period between April 1995 and April 1998, the Central Bank has said.

A survey of the foreign exchange and financial derivatives markets carried out by the Central Bank found that average daily turnover of derivative instruments came to $2.4 billion (£1.7 billion) in April 1998 compared to $1.3 billion (£800 million) three years earlier. It also found that an increasing range of derivative instruments were being used.