However, it is also fair to say that industry participants and regulators are facing a number of ongoing questions regarding the full implications of CCP interoperability in terms of competition, financial innovation and systemic risk.
In this address, I will try to give an overview of the main benefits that CCP interoperability has brought to the EU financial system, and outline why in my view interoperability should be supported and enhanced. I will also discuss some of the challenges CCPs and authorities are currently facing in establishing and managing safe interoperability arrangements.