The new regulatory requirements may have a substantial impact on the work flow for the market participants including the end users. These regulations also have exceptions for some category of participants and products. The end users must determine what is necessary to comply with the regulations from which they are not exempted.
They must meet certain criteria in order to qualify for available exemptions and will need to be aware of the activities that could prevent them from qualifying for the exceptions in the future. Depending on the extent to which the end users engage in OTC derivatives, the costs associated with preparing for the above could be significant.