Nov. 01, 2022
November 1, 2022 I find it absurd that the reporting of swaps is not required by firms in real time when we have had massive technological capability increases within the past decade. These can be seen in the huge buildings being built in New York in order to get the least amount of latency so they firms can skim pennies off of trades. I also find it disgusting that massive amounts of data is being withheld from the public, case in point related to swaps being the CFTC keeping swaps in the dark for multiple years. How can you call it a free market when the public can not see the inner workings of it? The biggest firms know what's going on, so why not us? In a perfect system, we shouldn't have to wait for data to be reported, it should be in real time. Something which could be financially destructive such as swaps should be reported with transparency to everyone. This could set the lead in which other countries will follow, borders and hidden market data should not exist. All swaps should be reported and in a timely, descriptive and accurate manner.