In the initial days of the new regime, the problems consisted mostly of technical troubles with reporting, with some regulators and Approved Reporting Mechanisms (ARMs) experiencing shutdowns. Now, nearly six months post-implementation, most of those early, post-go-live wrinkles have been ironed out, though firms, vendors and data experts report that they continue to deal with some stubborn data problems—primarily around instrument reference data and identifying execution venues.
“Out of the
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