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Could costs be reduced by collecting smaller volumes of aggregated data, rather than larger volumes of granular data? |
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To the contrary, it is actually easier, both for regulators and financial firms, if data are collected in the same forms in which they are generated originally. Once data reporting processes are standardized, the least costly and least burdensome way to report transaction data is with the equivalent of an electronic “cc” automatically attached to each trade confirmation message. A requirement that firms aggregate data prior to transmission would actually increase the burdens on firms.
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FAQs: NIF's data needs