EBF has published its views on the upcoming proposal for a Regulation on Market Infrastructure. It supports a key role for CCPs in addressing the deficiencies of the OTC derivatives markets. However, it feels use should be market driven and that it is also very important to strengthen collateralisation in bilateral clearing. The paper also says governance and operational controls within CCPs are critical and recommends CCPs be authorised at EU level and supervised domestically. EBF fully supports establishing Trade Repositories and finally explains the need for a carefully considered approach for open access and interoperability between market infrastructures.