The Data Reporting Challenge: U.S. Swap Data Reporting and Financial Market Infrastructure

31 Pages Posted: 2 Mar 2020

See all articles by Richard Berner

Richard Berner

Leonard N. Stern School of Business, NYU

Robin Doyle

JP Morgan Chase & Co.

Kenneth Lamar

Lamar Associates LLC

Date Written: February 19, 2020

Abstract

This chapter describes the past and present regulatory reporting landscape for U.S. swap data and financial market infrastructures (FMIs). It argues that standards are essential to ensure that both the data and the technology supporting the reporting process are fit for purpose and are dynamic enough that changing data needs are available quickly in times of stress. It contends that U.S. regulators must accelerate their work to harmonize U.S. reporting requirements at home and work with those abroad to align them globally. The chapter builds on the lessons learned from current swap and FMI data reporting regimes to inform the rethinking of financial reporting generally and the process of financial regulation to make them more effective and efficient. To realize those goals, regulators and industry must learn to rely on data rather than reports and must collaborate to align their use of these data and standardize them to make them interoperable.

Keywords: data reporting, data standards, financial regulation

JEL Classification: G18, G28, K2, L51

Suggested Citation

Berner, Richard and Doyle, Robin and Lamar, Kenneth, The Data Reporting Challenge: U.S. Swap Data Reporting and Financial Market Infrastructure (February 19, 2020). Available at SSRN: https://ssrn.com/abstract=3541248 or http://dx.doi.org/10.2139/ssrn.3541248

Richard Berner (Contact Author)

Leonard N. Stern School of Business, NYU ( email )

Bobst Library, E-resource Acquisitions
20 Cooper Square 3rd Floor
New York, NY 10003-711
United States

Robin Doyle

JP Morgan Chase & Co. ( email )

New York, NY
United States

Kenneth Lamar

Lamar Associates LLC ( email )

Williamsburg, VA 23185
United States

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