US energy firms facing Dodd-Frank trade reporting ‘nightmare’
Differing approaches of swap data repositories haunt energy companies trying to reconcile trades
Energy firms are slogging through a frustrating, time-consuming mess as they struggle to ensure compliance with Dodd-Frank trade reporting rules crafted by the US Commodity Futures Trading Commission (CFTC).
The problem, according to industry compliance specialists, lies in the lack of shared standards between the three swap data repositories (SDRs) to which energy companies and other market participants must report their over-the-counter commodity derivatives trades. Because of inconsistencies
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