The cost of the Commodity Futures Trading Commission’s (CFTC) proposals to introduce new customer data reports, dubbed the account ownership and control report (OCR), is likely to represent a “significant burden” for market participants in the futures industry, according to Futures Industry Association president John Damgard. In a letter sent to CFTC secretary David Stawick last month, Damgard highlights the data management challenges that represent significant barriers to the industry in meeting these new requirements, including a lack of uniformity of data management systems.

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