CFTC takes steps to clean up ‘garbage’ swaps data

Attempts to further standardise swaps in new data reporting proposals are a source of frustration for market participants

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

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