(14)When assessing whether to suspend the derivative trading obligation, the Commission also considered whether such suspension could have a distortive effect on the clearing obligation under Title II of Regulation (EU) No 648/2012. Given that the clearing obligation will continue to apply with respect to the financial counterparties that make use of the suspension of the derivative trading obligation, irrespective of whether the derivatives that those financial counterparties trade are subject to the derivative trading obligation, the Commission considered that the suspension of the derivative trading obligation would not have a distortive effect on the clearing obligation under Title II of Regulation (EU) No 648/2012.