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CFTC Boosts Scrutiny of Swap-Data Rules to Help It Spot Whales

The U.S. Commodity Futures Trading Commission is moving to revamp oversight of swap-market data after a member said the agency’s information wouldn’t help detect a loss like JPMorgan Chase & Co.’s London Whale trades.

Public comment is being sought on ways to improve the CFTC’s access to price, volume and other information held in new databases, the agency said in a statement today. The databases, run by companies including CME Group Inc. and the Depository Trust and Clearing Corp., are a Dodd-Frank Act requirement meant to help regulators see financial-system risks.