Obama proposal suggests all OTC derivatives to clear on exchange

Excerpt from Obama proposal issued June 17, 2009

"To contain systemic risks, the Commodities Exchange Act (CEA) and the securities laws
should be amended to require clearing of all standardized OTC derivatives through
regulated central counterparties (CCPs). To make these measures effective, regulators
will need to require that CCPs impose robust margin requirements as well as other
necessary risk controls and that customized OTC derivatives are not used solely as a
means to avoid using a CCP. For example, if an OTC derivative is accepted for clearing
by one or more fully regulated CCPs, it should create a presumption that it is a
standardized contract and thus required to be cleared."

http://www.financialstability.gov/docs/regs/FinalReport_web.pdf