Scott O Malia, the commissioner of the CFTC recently talked of how they are still unable to process and analyse the data they have received under Dodd Frank trade reporting. A full article can be seen here on the Waters Technology web site.

Back in EMIR land, we do not expect things to be much better, particularly on the energy and commodities side, where it is still unclear how to report many types of trade, and where it is impossible to report certain types of trade. On the EMIR side, since we have double sided reporting, one could argue that reconciliation will shake out the issues, but most would agree that this is unlikely.