The new regulation is a part of the Dodd-Frank financial reform act, under which the Commodity Futures Trading Commission (CFTC) proposed rules for how OTC derivatives clearing houses should be regulated.

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Why are many derivative market participants still objecting to exchange clearing of the remaining OTC derivative contracts?

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One clear difficulty springs up from the second invesigation to be conducted by the EC is that regulators had strived to have over the counter (OTC) derivative products settled through international clearing houses.

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Applying the tax to derivatives and to OTC transactions, most of which will move to centralized clearing, would be more difficult but would raise much larger sums.

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The launch of CME Clearing Europe which will clear more than 150 OTC energy and commodity products will support the growth of average daily volume of energy products.

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For example, since September 2005, the Federal Reserve Bank of New York has been leading a joint public-private initiative to improve arrangements for clearing and settling trades in credit default swaps and other OTC derivatives.

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Exchanges such as CME Group, Nasdaq OMX and NYSE Euronext are lined up to get a piece of the over-the-counter (OTC) derivatives market as new regulations will require derivatives trading to go through exchanges and be cleared through clearing houses.

FORBES: Dodd-Frank Pumps Up CME Group