Which of the following statements related to counterparty credit risk is least accurate ?
A.
Network risk arises as a result of an increase in counterparty credit risk, causing a web of contracting parties to seek additional protection and liquidity.
B.
A clearinghouse can facilitate ( 使便利 ) multilateral netting arrangements, which decreases network risk.
C.
Financial products, such as collateralized debt obligations (CDOs) and interest rate swaps, are traded on organized trading exchanges.
D.
Financial systems consist of a network of obligations distributed among numerous institutions.