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Recital 38

Recital 38

(38)Provisions concerning non-discriminatory access for exchange-traded derivatives might reduce the attractiveness of investing in new products as competitors might be able to get access without the upfront investment. The application of the non-discriminatory access regime for exchange-traded derivatives, laid down in Articles 35 and 36 of Regulation (EU) No 600/2014, might thus limit investment in such products by removing incentives for regulated markets to create new exchange-traded derivatives. It should therefore be laid down that that regime is not to apply to the central counterparty (CCP) or trading venue concerned in respect of exchange-traded derivatives, thus fostering innovation and the development of exchange-traded derivatives in the Union.

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