Financial industry Regulatory Authority (Finra)

CAT Constructor: Why Thesys Won, Finra Lost and What Comes Next

On January 17, the self-regulatory organizations announced that Thesys Technologies had won the right to build the Consolidated Audit Trail, putting it in charge of what will be one of the biggest financial technology projects in the history of the…

Tick Size Pilot Program Launches

The SEC's project to better understand the impact of changing the tick size for securities of small-cap companies kicks off today.

Challenges to CAT Adoption Still Remain

One month ago, on April 27, the Securities and Exchange Commission published its plans for a mandated Consolidated Audit Trail (CAT) for public comment, along with an economic analysis of the initiative, which it estimates will cost the industry $2.4…

Clocking the CAT

Firms will need to focus on their clocks when it comes time to start reporting to the CAT.