2011 Year in Review: Regulators’ Data Initiatives March Slowly On
One year ago, US regulator the Securities and Exchange Commission was working on proposals to create a computer system to monitor details of all orders and trades on the US securities markets in real time.
The system, dubbed the Consolidated Audit Trail (CAT) is intended to detect anomalies or abusive trading activity following the May 6 “Flash Crash,” but 18 months later, participants might be forgiven for thinking there has been little progress towards this goal. When first proposed in May
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