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SEC Plans to Build Consolidated Database to Track Trading Activities

The Securities and Exchange Commission (SEC) has set out plans to build a database, called the consolidated audit trail (CAT), which will help regulators track all trading activity in the US equity and options market. The SEC voted to force US exchanges and Finra to build the consolidated audit trail system to monitor and analyze trading activity back in 2012, partly in response to the notorious flash crash of two years before.

Currently, exchanges each operate their own systems to track activity on their platforms. In the absence of a single database, the SEC has said that it has a tough job obtaining and merging large volumes of disparate data. The new plan details the methods by which self-regulatory organizations and broker-dealers would record and report information, including the identity of the customer, resulting in a range of data elements that together provide the complete lifecycle of all orders and transactions in the US equity and options markets.

News Characteristics

Date : Apr 28, 2016
Region : North America
Industry : Capital Markets
Function : Regulation and Compliance
Sub-Function : Liquidity Management