On March 19th, CFTC Commissioner Scott O'Malia discussed the CFTC's implementation of the Dodd-Frank Act's swaps reporting requirements. The data submitted to swap data repositories ("SDRs") and, in turn, to the CFTC, is not usable in its current form because of the agency's failure to specify a data format. In addition, data is being recorded inconsistently from one dealer to another and the issues will be multiplied when major swap participants and end-users begin reporting. The CFTC must also significantly improve its information technology capability so that it can load the existing swap data into its computers without causing the system to crash. O'Malia Remarks.