The Office of Fair Trading (OFT) has announced that it will not investigate the market for clearing of derivatives. Despite the turmoil in the banking world, the OFT concluded that it did not need to take its own action in light of the regulatory initiatives by the EU and the US, as well as significant evidence of intervention from the industry itself and users of clearing services. The OFT has stated that it will continue to monitor the developments in the clearing market closely.