“More Data” Still Won’t Equal “More Clarity” Overnight
Europe’s SFTR framework is explicit about reporting, access, aggregation, and publication - but anyone who has lived through reporting regimes knows that adding data is not the same as improving understanding.
The first phase of any transparency regime tends to produce:
- inconsistent mapping
- interpretation disputes
- operational pain
- dashboards that look complete but miss context
The market doesn’t become “transparent” because a dataset exists. It becomes clearer only when data becomes reliable, comparable, and actually usable.
