Fitch launches survey of credit derivatives

Credit derivatives have grown from practically nothing in 1997 to an estimated US$2trn in 2002 and could rise to US$4.8trn by the end of 2004. Rating agency Fitch is surveying market participants – including insurers, reinsurers, monolines, banks and securities firms – in a bid to improve overall transparency and provide more clarity on who the sellers of credit protection are.