In the post Dodd Frank era, data on all US swaps transactions must be reported to so-called Swap Data Repositories. However, loose implementing regs and poor practices has made the date of limited value.
Reopening this regulation for comment is a much needed move by the CFTC to get serous about data quality and the oversight it powers.
Citing inability to fully understand swaps-market data, the Commodity Futures Trading Commission has requested comments on ways to improve the way information is reported to swap data repositories (SDRs). “The data we’ve received frankly hasn’t been clean enough for us to make sense of it as easily and as quickly as we need to be able to do,” said Mark Wetjen, CFTC acting chairman at a U.S. Chamber of Commerce conference in Washington. “We’re prepared to make corrections if we need to.