Shutting down Oats may take two years and depend on CAT data accuracy.
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…
Thesys choice upsets the status quo.
Vendor selected from 31 bidders to build, implement and maintain the Consolidated Audit Trail.
Requiring SROs to report data to obsolete platforms is counterintuitive to the entire industry.
The regulator modified several points of the NMS plan prior to approval.
The failures included missing or duplicate reports, and erroneous data for timestamps and execution quantities, among other data fields.
What still lies ahead for the Consolidated Audit Trail?
Firms will need to focus on their clocks when it comes time to start reporting to the CAT.
OATS reporting violations said to span more than eight years.
Perseus' Jock Percy looks at the need for clock standardization.
New order audit trail specifications are expected to generate increased volume of codes for processing, including more rejected code issues for firms to address. Michael Shashoua lays out the scope of the new rules and how firms are viewing the…
Strapline: Data Management