SEC Seeks Comment On Consolidated Audit Trail Proposal

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.