CFTC takes steps to clean up ‘garbage’ swaps data

Market participants frustrated at attempts to further standardise swaps in data reporting proposals

j-christopher-giancarlo
Chris Giancarlo, CFTC

The US Commodity Futures Trading Commission (CFTC) is taking steps to clean up terabytes of uninterpretable data being reported to the agency under swap reporting rules – but commodities market participants complain that the agency's attempts to standardise certain contracts for reporting purposes are unfeasible.

Under the Dodd-Frank Act, firms are required to report over-the-counter trades to Swap Data Repositories (SDRs), entities that hold large amounts of trading data in order to provide reg