“More than two years after Congress voted to bring swap transactions out of the shadows so they could be tallied and monitored, U.S. regulators are still struggling to build a system that works.

“Officials at the Commodity Futures Trading Commission have found inconsistencies and gaps in the trading data the Depository Trust and Clearing Corp. began to supply late last year, according to three people familiar with the matter.

“The agency is also threatened with litigation by DTCC and competitor CME Group (CME) Inc., which are at odds over how information about the market should be routed and stored. The CFTC is preparing to approve CME’s view on the issue by March 6, according to one of the people.”

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Read full Bloomberg article here