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Derivatives reform hits a technology and data roadblock 

April 2, 2014
Allen D. Grody, FOW

Industry standards bodies and regulators have basically asked the industry to help them rethink the data and technology implications of derivatives reform, says Allan Grody, president, Financial InterGroup

Industry standards bodies and regulators including the CFTC, the EU and the Financial Stability Board were given responsibility to oversee the over-the-counter derivatives markets. Now, after nearly four years of consultation with the industry and writing new regulations, and after being deluged with industry data their computers could not ingest, it has basically asked the industry to help them rethink the data and technology implications of derivatives reform.

The CFTC has just released a Request for Public Comment on its Swap Data Reporting Rule suggesting that issues that surfaced around technology and data requirements are in need of a carefully considered review, taking into account market practices that regulators are still not well informed on.

Read more: FOW

 
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