Speaking at messaging provider Swift's Standards Forum event in Canary Wharf, London, Commissioner Scott O'Malia gave a blunt assessment of the regulator's capabilities when it comes to even understanding the information it receives from market participants.
"Over a year has passed since swap data reporting began in the US," he said. "Yet, the CFTC still cannot crunch the data in swap data repositories (SDRs) to identify and measure risk exposures in the market. Lack of automation, inconsistent
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails