Consolidated Audit Trail (CAT) - Overview

FIF has formed the Consolidated Audit Trail (CAT) Working Group to track implementation issues associated with the SEC's approved Rule 613. The rule requires the exchanges and FINRA to act jointly in developing a national market system (“NMS”) plan to develop, implement, and maintain a consolidated order tracking system, or consolidated audit trail, with respect to the trading of NMS securities (i.e., listed equity and options).


FIF CAT WG Comments include: