The current discussion surrounding the cost of clearing is not a new one. In the years following the 2008 financial crisis, many market commentators and academics have focused on the strengths and weaknesses of cleared versus non-cleared derivatives. Some studies have pointed to the very high potential cost of clearing over-the-counter derivatives, with authors citing figures in the billions or even trillions of dollars at a system-wide level.
So, what can I add to this debate? To clear or not t