Regulatory-driven efforts to move credit default swaps, or CDS, on to exchanges for trading purposes are initially being met by a move toward central clearing of vanilla CDS trades by central counterparties, or CCPs, in some cases utilising an existing derivatives clearing house. Firms aiming to facilitate central clearing of CDS include: Chicago Mercantile Exchange, or CME; Eurex; ICE Trust; NYSE Euronext.Liffe and LCH.Clearnet.