The SEC is seeking public comment on a proposed national market
system (NMS) plan to create a single, comprehensive database
enabling regulators to efficiently track all trading activity in
the U.S. equity and options market. The plan for the consolidated
audit trail (CAT) database was submitted jointly by the
self-regulatory organizations (SROs), as required by Rule 613 of
Regulation NMS. The proposal details the methods by which SROs 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 U.S. equity and options markets. The proposed
NMS plan also details how the data in the CAT would be maintained
to ensure its accuracy, integrity and security.
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