CCPs and regulators need to develop clear and detailed CCP recovery and resolution strategies that are well designed to minimize transmission of the CCP’s distress to its clearing members and beyond.
3. In my remarks today, I would focus on the following issues in the role of  financial regulation in averting the next crisis: • • • •  Globalisation and adherence to global rules/standards − synergies and challenges. Financial regulation and suddenness of crisis incidence − regulatory intervention needs to be more anticipatory and data-based.