The dynamics in the economy throughout 2013 has brought home a lesson about the importance of having an optimal balance on external and internal sector. A sustainable economic growth requires not only a low and stable inflation, but also a healthy posture in 2  BIS central bankers’ speeches  current account.
In modern finance, the funding requirement, cash flows and risk appetite vary from company to company and from financial institution to financial institution. An exchange-traded product is necessarily standardised and disincentivises financial innovation. Completely moving away from OTC products is like throwing the baby with the bathwater.