Clocking the CAT
Firms will need to focus on their clocks when it comes time to start reporting to the CAT.
Next month, Waters will publish a feature looking at the technology issues surrounding the implementation of the Consolidated Audit Trail (CAT). The CAT, which will serve as a massive database for tracking equities and options, has been in the spotlight since it was first approved by the US Securities and Exchange Commission in July 2012, but the talks about the platform gained momentum when the SEC voted to publish the National Market System (NMS) plan for public comment and released a notice
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