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Notes to the consolidated financial statements continued15. Derivative financial instruments continued(e)(f)Call options: agreements granting the right to buy Richemont shares at pre-determined prices as treasury stock to partially hedge theGroup’s obligations arising under the share option plan (note 17).Currency basket options: option instruments that have all the characteristics of a standard option, except that the strike price is basedon a weighted value of the component currencies.(g) Derivative share options: options granted to certain Richemont executives giving them the right to acquire shares in listed equities atpre-determined prices.The nominal amounts of certain types of financial instruments provide a basis for comparison with instruments recognised on the balancesheet date but do not necessarily indicate the amounts of future cash flows involved or the current fair value of the instruments and, thereforedo not indicate the Group’s exposure to credit or price risks. The derivative instruments become favourable (assets) or unfavourable (liabilities)as a result of fluctuations in market interest rates or foreign exchange rates relative to their terms.The fair value of publicly traded derivatives, securities and investments is based on quoted market prices at the balance sheet date. In assessingthe fair value of non-traded derivatives and other financial instruments, the Group uses a variety of methods and assumptions that are basedon market conditions and risks existing at each balance sheet date.The fair values and nominal amounts of derivative instruments held are as follows:Nominal amount Fair value assets Fair value liabilities2009 2008 2009 2008 2009 2008€ m € m € m € m € m € mDerivatives designated as cash flow hedgesQualifying cash flow hedgesCurrency derivatives– currency forwards 554 399 10 26 (27) –– currency options – 10 – 1 – –Non-hedge derivativesAccrual style option forwards 125 87 – 18 (45) (4)Currency basket options – 300 – 12 – –Interest rate swap derivatives 38 – – – (1) –Currency forwards 508 266 7 15 (15) (4)Derivative share options 107 – – – (35) –Currency options 23 – 1 – – –18 72 (123) (8)Other than the non-hedge derivatives detailed above, the Group has no other financial assets classified as held for trading.The contractual maturity of derivative instruments held is as follows:Less than 6 months Between 6 and 12 months Between 1 and 2 years2009 2008 2009 2008 2009 2008€ m € m € m € m € m € mDerivatives designated as cash flow hedgesQualifying cash flow hedgesCurrency derivatives– currency forwards 116 156 438 237 – 6– currency options – 3 – 4 – 3Non-hedge derivativesAccrual style option forwards 118 70 7 17 – –Currency basket options – 100 – 200 – –Interest rate swap derivatives – – – – 38 –Currency forwards 370 126 138 95 – 45Derivative share options 107 – – – – –Currency options – – 23 – – –711 455 606 553 38 5482 Richemont Annual Report and Accounts 2009Consolidated financial statements