Central banks using bespoke indexes are more likely to trade derivatives and securities in their reserve management activities. 

Central Banking found a difference in the levels of securities and derivatives used, among Reserve Benchmarks 2021 participants implementing bespoke indexes. 

Central banks that use bespoke indexes were much more likely to trade derivatives (86%), than those that do not use bespoke indexes (56%). Likewise, 86% of central banks that use bespoke indexes are more likely