We have come a long way since the G20 agreement to increase mandatory central clearing obligations. However, critical gaps remain in cross-border cooperative arrangements for global CCPs as well as in coordination within the central clearing community. Effective coordination among banks, CCPs and public authorities is necessary to manage risks in central clearing.
There are significant shortcomings in this area, which cut across the various issues for discussion at today’s conference. In order to improve coordination, we need to take action to find fair solutions for diverging interests and reduce knowledge gaps. To this end, both private and public sector stakeholders should contribute to  developing an enhanced institutional setting for ongoing dialogue and coordination.