The Commodity Futures Trading Commission (CFTC), citing aninability to fully understand swaps-market data, has begun anoverhaul of information collected by the Depository Trust &Clearing Corp. (DTCC), CME Group Inc., and others.

The top U.S. derivatives regulator released a request forcomment yesterday on about 70 questions on ways to change how andwhich information must be reported to the swap-data repositoriescreated under Dodd-Frank Act rules. The CFTC could later proposechanges to policies intended to help regulators supervise the $693trillion market.

“The data we've received frankly hasn't been clean enough for usto make sense of it as easily and as quickly as we need to be ableto do,” Mark Wetjen, the CFTC's acting chairman, said at a U.S.Chamber of Commerce conference in Washington. “We're prepared tomake corrections if we need to.”