Across the top of the diagram on the X axis are the major derivatives activities as follows: Hedging, Dealing, and Speculating. Dealer activities are further broken down into the following: match trading , market making, and positioning ( the significance of this breakdown is explained further on in the document). In the center of the diagram is an arrow of increasing upward slope indicating generally increasing risk. The low point of the arrow is at the intersection of interest rate contracts and hedging. The high point of the arrow is at the intersection of equity, commodity, and other contracts and speculating. Slightly less than half way up the arrow is a caption indicating that 80 percent of bank derivatives activity is a mixture of dealer activities in less risky derivative contract types.