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by cm2187 3448 days ago
Being centrally cleared to reduce counterparty risk and being traded electronically on an exchange are two distinct things.

Electronic trading does change dramatically the shape and profile of a trading floor. Introducing central clearing with margining not so much.

You won't achieve electronic trading anytime soon on products where there are perhaps at most 200-300 buyers in the world, must of who are only interested in buying big chunks.