But they have concerns about trying to force through "highly customized" contracts.

WSJ: Swaps Add Risk to Fund Portfolios

More generally, although customized derivatives contracts between sophisticated counterparties will continue to be appropriate in many situations, on the margin it appears that a migration of derivatives trading toward more-standardized instruments and the increased use of well-managed central counterparties, either linked to or independent of exchanges, could have a systemic benefit.

FORBES: Transcript

For example, a telephony API gives you the power of the phone network without the need to purchase expensive hardware, a mapping API makes it possible for you to build customized, dynamic maps without signing contracts with data providers, and a payments API lets you accept payments without having to worry about complying with complex financial regulations, etc.

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