Consultation Paper – Feasibility study on approaches to aggregate OTC derivatives data. Financial Stability Board. February 4, 2014.

“A good deal of progress has been made in establishing the market infrastructure to support the commitment that all contracts be reported to TRs. However, the data will be reported to  multiple TRs located in a number of jurisdictions. The FSB therefore requested further study  of how to ensure that the data reported to TRs can be effectively used by authorities, including to identify and mitigate systemic risk, and in particular through enabling the availability of the data in aggregated form. The FSB, in consultation with the Committee on Payment and  Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO), will then make a decision on whether to initiate work to develop a global aggregation mechanism and, if so, according to which type of aggregation model and which additional policy actions may be needed to address obstacles. The attached public consultation paper responds to the request by the FSB for a feasibility study that sets out and analyses the various options for aggregating OTC derivatives TR data. The draft has been prepared by a study group set up by the FSB and composed of experts from member organisations of CPSS and IOSCO and other organisations with roles in macroprudential and microprudential surveillance and supervision.”