Growth in the global over-the-counter (OTC) derivatives market again outpaced the exchange-traded sector in the second half of last year, according to a report from the Bank for International Settlements (BIS).

The widely followed BIS report on OTC derivatives activity estimated that that notional amount of outstanding OTC contracts stood at $141.7 trillion (€123.3 trillion) at the end of last year, up 11% from $127.5 trillion at the end of June. During the same period open positions in exchange-traded contracts fell by 1%.