Energy industry blasts ‘unusable’ CFTC commodity swap data

Vast variety of contracts, lack of coordination by SDRs led to reporting debacle

fuzzy-tv-shutterstock-93096082
Unreadable: the CFTC is struggling to make sense of SDR data

It was one of the key pillars of post-crisis financial reform. In passing the US Dodd-Frank Act, lawmakers mandated that all over-the-counter derivatives trades be reported to swap data repositories (SDRs), providing regulators with insight into previously opaque markets. That would help prevent the build-up of systemic risk that had such dire consequences in 2008.

Or at least, that was the theory. The reality, some three years after reporting began, is that the US Commodity Futures Trading Comm