(19)On 7 December 2022, the Commission adopted a proposal to amend Regulation (EU) No 648/2012 to make Union clearing services more attractive and resilient, supporting the Union's open strategic autonomy and preserving financial stability. That proposal aimed to boost the attractiveness of Union clearing markets and develop the supply of clearing services in the Union, including by streamlining the process for bringing new products to the market. That proposal also aimed to address the financial stability risks associated with excessive exposures of Union clearing members and clients to systemically important third-country CCPs (‘Tier 2 CCPs’) that provide clearing services that have been identified by ESMA as clearing services of substantial systemic importance pursuant to Article 25(2c) of Regulation (EU) No 648/2012.