The Commodity Futures Trading Commission, citing an inability to fully understand swaps-market data, has begun an overhaul of information collected by the Depository Trust & Clearing Corp., CME Group Inc. and others.

The top U.S. derivatives regulator released a request for comment yesterday on about 70 questions on ways to change how and which information must be reported to the swap-data repositories created under Dodd-Frank Act rules. The CFTC could later propose changes to policies intended to help regulators supervise the $693 trillion market.

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

***

Read full Bloomberg article here.