With a new contractor taking over the Consolidated Audit Trail project in March, the order-tracking system for all U.S. stock and option trading activity is pushing ahead with equities testing starting in December and a go-live date of April 2020.
CAT: Moving the Ball Forward
With a new contractor taking over the Consolidated Audit Trail project in March, the order-tracking system for all U.S. stock and option trading activity is pushing ahead with equities testing starting in December and a go-live date of April 2020.
On March 18, the CAT NMS Operating Committee, which runs the Consolidated Audit Trail, opened a registration page to capture basic information from industry members and third-party CAT reporters, requiring broker dealers and technology providers to sign up and prepare for data submissions and file validation prior to live reporting.
“Any industry member of a national securities exchange or national securities association that handles orders or quotes in National Market System (NMS) equity securities, OTC equity securities or listed options is required to register,” said Paul McKenney, a senior director at FINRA on the March 19 industry webcast.
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