Answer: dealers, such as commercial banks or investment banks.

The correct answer is **A** because the over-the-counter (OTC) derivatives market primarily involves contracts between end users and dealers, who act as financial intermediaries (e.g., commercial banks or investment banks). Option **B** is incorrect because end users typically do not trade directly with each other. Option **C** is incorrect because central counterparties (CCPs) are responsible for clearing and settlement, not direct trading of derivatives.

Author: LeetQuiz Editorial Team