If these aspects are not addressed by the regulators, mandatory clearing would only result in a potentially riskier system. 23. The real sector i.e. end users are opposing mandatory move to exchanges and clearing platforms on the ground that the crisis was inherently due to complex transactions between financial intermediaries and there should be no increase in cost to the real sector, i.e.
genuine end-users, for undertaking derivative trades. 24. Currently, a CPSS–IOSCO Committee is looking into the existing standards for the systemic entities like the CCP.