A plan by the Commodity Futures Trading Commission to monitor just who is trading U.S. futures contracts and how much they are trading could mean some onerous – and costly -- data management challenges for futures commission merchants. The focus is firms trading and clearing futures contracts.

In the latest version of a proposal first floated last year, the CFTC said that it wants to require reporting entities such as designated contract markets – aka exchanges – to come up with a weekly account ownership and control report (OCR). That means futures exchanges would need to send the CFTC the information requested but in turn they would have to collect the information from their member firms – namely futures commission merchants (FCMs), who trade and clear contracts.

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