Barclays 2014 Annual Report Download - page 279

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15 Derivative financial instruments continued
The Group’s objectives and policies on managing the risks that arise in connection with derivatives, including the policies for hedging, are
discussed in the Risk management section in the Barclays Pillar 3 Report on page 135. Trading derivatives are managed within the Group’s market
risk management policies, which are outlined on pages 130 and 131.
The Group’s exposure to credit risk arising from derivative contracts are outlined in the Credit Risk section on page 166.
The fair values and notional amounts of derivative instruments held for trading are set out in the following table:
Derivatives held for trading
2014 2013
Notional
contract
amount
£m
Fair value Notional
contract
amount
£m
Fair value
Assets
£m
Liabilities
£m
Assets
£m
Liabilities
£m
Foreign exchange derivatives
Forward foreign exchange 1,684,832 31,883 (34,611) 2,482,144 25,504 (29,825)
Currency swaps 1,109,795 32,209 (33,919) 1,287,911 27,138 (27,855)
OTC options bought and sold 895,226 10,267 (10,665) 815,742 6,858 (6,977)
OTC derivatives 3,689,853 74,359 (79,195) 4,585,797 59,500 (64,657)
Foreign exchange derivatives cleared by central counterparty 11,382 56 (70) 3,368 35 (33)
Exchange traded futures and options – bought and sold 57,623 18 (16) 47,863 70 (75)
Foreign exchange derivatives 3,758,858 74,433 (79,281) 4,637,028 59,605 (64,765)
Interest rate derivatives
Interest rate swaps 5,779,015 209,962 (200,096) 7,497,699 168,480 (155,883)
Forward rate agreements 467,812 794 (722) 601,123 750 (719)
OTC options bought and sold 3,083,200 67,039 (67,575) 3,909,340 49,827 (50,087)
OTC derivatives 9,330,027 277,795 (268,393) 12,008,162 219,057 (206,689)
Interest rate derivatives cleared by central counterparty 15,030,090 30,166 (31,152) 21,377,621 9,608 (9,178)
Exchange traded futures and options – bought and sold 2,210,602 382 (336) 1,320,840 1,462 (1,459)
Interest rate derivatives 26,570,719 308,343 (299,881) 34,706,623 230,127 (217,326)
Credit derivatives
OTC swaps 896,386 18,864 (17,825) 1,270,020 22,747 (22,890)
Credit derivatives cleared by central counterparty 287,577 4,643 (4,542) 306,164 4,603 (4,178)
Credit derivatives 1,183,963 23,507 (22,367) 1,576,184 27,350 (27,068)
Equity and stock index derivatives
OTC options bought and sold 67,151 6,461 (9,517) 76,145 7,880 (11,227)
Equity swaps and forwards 102,663 1,823 (3,532) 86,497 3,925 (5,271)
OTC derivatives 169,814 8,284 (13,049) 162,642 11,805 (16,498)
Exchange traded futures and options – bought and sold 490,960 6,560 (6,542) 335,773 4,481 (5,532)
Equity and stock index derivatives 660,774 14,844 (19,591) 498,415 16,286 (22,030)
Commodity derivatives
OTC options bought and sold 38,196 1,592 (1,227) 62,564 1,527 (1,369)
Commodity swaps and forwards 61,639 7,985 (8,175) 141,287 8,570 (8,813)
OTC derivatives 99,835 9,577 (9,402) 203,851 10,097 (10,182)
Exchange traded futures and options – bought and sold 350,193 7,566 (8,101) 361,165 4,090 (4,474)
Commodity derivatives 450,028 17,143 (17,503) 565,016 14,187 (14,656)
Derivative assets/(liabilities) held for trading 32,624,342 438,270 (438,623) 41,983,266 347,555 (345,845)
Total OTC derivatives held for trading 14,185,915 388,879 (387,864) 18,230,472 323,206 (320,916)
Total derivatives cleared by central counterparty held for trading 15,329,049 34,865 (35,764) 21,687,153 14,246 (13,389)
Total exchange traded derivatives held for trading 3,109,378 14,526 (14,995) 2,065,641 10,103 (11,540)
Derivative assets/(liabilities) held for trading 32,624,342 438,270 (438,623) 41,983,266 347,555 (345,845)
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