APEC is, of course, the over-arching regional framework. There are, in addition, a variety of smaller and more specialised groups - EMEAP (the East Asian central bankers group), the Manila Framework Group, Four/Six Markets Group27 - which all have memberships relevant to Australia’s regional economic interests.
Overall, in terms of notional amounts, more than 90% of the euro-denominated derivatives business of euro area banks is cleared via UK CCPs. The importance of UK CCPs is not limited to derivatives, as they are involved in approximately 50% of the cleared euro-denominated repo business of euro area banks.