The US top carmakers General Motors, Ford and DaimlerChrysler appeared on the top of the list of the companies with exceptional volumes in credit default swaps, or CDS, the Financial Times data shows.

The customers of GFI, a large broker and data provider for credit derivatives, indicated that the three carmakers showed the best results in credit derivatives trading last month in North America.

The surge in trading was driven by the most recent bond market volatility. Investors are now searching for ways to benefit from bond market movements.

“There are indications that growth in CDS activity, especially for highly volatile names such as GM, may have outpaced growth in cash market activity by a factor of three to one this year, highlighting the greater use of the CDS market for those who wish to either take on or lay off credit exposure,” said James Batterman, senior director at Fitch Ratings.