After months of debate and the lengthy deliberations of a dedicated conference committee (see our coverage here), US president Barack Obama has finally signed off the reform bill that proposes, amongst many other things, to set up a US-based data utility in order to more accurately monitor systemic risk. The establishment of the Office of Financial Research has now passed into law and, for better or worse, the government and the market needs to determine exactly what the endeavour will entail. What’s for certain is that data standardisation debates and reporting requirements for basic reference data sets are headed the industry’s way.

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