ISDA-Derivative Negotiator

Anyone have intel on the future of the derivatives industry? It's just only a matter of time before the lobbyists lose their grip in Congress enabling the CFTC/SEC to fully implement these derivatives reform regs. Once it does happen and the derivatives are forced to operate through exchanges, does that mean it wipes out the job function of ISDA Negotiators?

I'm a 3L with a Corp & Securities gig lined up. Still deciding if I want to eventually service small-medium sized business enterprises or become a desk jockey and service Wall Street. If I choose the latter, I wonder if ISDA Documentation Support (being a derivatives lawyer) is a viable long-term option. I'm not sure how these future exchanges will work. Their primary goal is to provide transparency on all this speculative betting, however, I wonder if it'll disrupt the logistics on how stuff gets done. My understanding is that when two parties want to enter into a derivative contract, ISDA negotiators or lawyers will do their due diligence, negotiate the terms, finalize under the ISDA standard. Will these Exchanges in any way disrupt this? There are already boutique firms that service broker-dealers and hedge funds specializing in documentation support. Maybe the Exchanges won't have an effect, but we do know that these new regulations are going to cut into the profits of this industry. Looks like a shrinking industry to me. But I'm just a student, so what do I know.

If anyone can share their thoughts, I'd appreciate it. Thanks.