NEW YORK, Nov. 16, 2016 /PRNewswire/ -- The Securities Exchange Commission (SEC) yesterday approved the Consolidated Audit Trail (CAT) National Market System (NMS) Plan submitted by the consortium of Self-Regulatory Organizations (collectively, the SROs) in charge of the initiative. The plan details the creation, implementation and management of the CAT.
"We're delighted that the CAT NMS plan has been approved by the SEC," said the consortium of CAT NMS plan participants. "The consolidated audit trail will help the SEC and the SROs better understand market structure and strengthens the goal to continue to make the regulation of the U.S. securities markets more efficient and effective."
The SROs will be selecting the CAT plan processor within two months of the effectiveness of the CAT NMS Plan that was approved yesterday.
About the Consolidated Audit Trail
Rule 613, adopted by the SEC in July 2012, requires the national securities exchanges and FINRA to submit to the SEC a NMS Plan (CAT NMS Plan) to create, implement, and maintain the CAT. The CAT will be an audit trail that will allow regulators to more efficiently and accurately track activity in NMS securities and OTC equity securities throughout the U.S. markets. The purpose of the CAT NMS Plan is to create a central repository for the SROs and the SEC to perform surveillance on order event data, linked to customer and account information, and to permit regulators to efficiently and effectively perform market reconstructions. When complete, the CAT will be the world's largest data repository for securities transactions tracking approximately 58 billion records of orders, executions, and quote life-cycles for equities and options markets on a daily basis.
Additional information about the CAT NMS Plan can be found at www.catnmsplan.com.
CAT NMS PLAN PARTICIPANTS:
Bats BYX Exchange, Inc.
Bats BZX Exchange, Inc.
Bats EDGA Exchange, Inc.
Bats EDGX Exchange, Inc.
BOX Options Exchange LLC
C2 Options Exchange, Incorporated
Chicago Board Options Exchange, Inc.
Chicago Stock Exchange, Inc.
Financial Industry Regulatory Authority, Inc.
International Securities Exchange, LLC
Investors Exchange LLC
ISE Gemini, LLC
ISE Mercury, LLC
Miami International Securities Exchange LLC
NASDAQ BX, Inc.
NASDAQ PHLX LLC
National Stock Exchange, Inc.
New York Stock Exchange LLC
NYSE Arca, Inc.
NYSE MKT LLC
The NASDAQ Stock Market LLC
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SOURCE Consolidated Audit Trail