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O'Malia Slams CFTC's Swaps Data as Unusable, Servers as Unstable

Joe Mont | March 19, 2013

“Big data is the commission's biggest problem.”

That's how Scott O'Malia of the Commodity Futures Trading Commission, speaking at a Securities Industry and Financial Markets Association conference on Tuesday, described the data-crunching “nightmare” undermining swap reporting rules.

Among the policy reforms of the Dodd-Frank Act is the mandatory reporting of all OTC trades to a Swap Data Repository (SDR). The goal...

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