CFTC Chairman Giancarlo `frustrated as can be’ on global derivative trade-reporting standards

31 May 2019 9:27am
US Commodity Futures Trading Commission Chairman J. Christopher Giancarlo expressed impatience with global authorities’ development of harmonized post-crisis standards for derivative contract data reported to trade repositories.

“I’m as frustrated as can be that 10 years later, more progress hasn’t been made,” he said at a Washington conference* yesterday. “There’s meetings still being held to schedule the next meeting. It’s become a global bureaucracy.”

Giancarlo said the authorities should have turned sooner to industry for input.