The global spillovers in the aftermath of the Lehman Brothers’ failure have impressively illustrated that OTC derivatives markets can be a source of systemic risk due to their size and low degree of transparency. The complexity of the markets and the lack of a single standard-setting body make regulation highly challenging. Accordingly, policy development is still ongoing.
The CBB is all for embracing innovation and new technology, but we cannot afford to be complacent in assessing the risks posed by these technologies and taking action to mitigate them. We have to ask the common sense questions: -  What is fundamentally new in this offering? -  What is the cost, benefit equation for the customer?