CAT Roll-Out Smooth, but System Still Needs Work
There were no major hiccups when the CAT was rolled-out to SROs on November 15 but it is still not ready for full industry implementation.
The first roll-out of the consolidated audit trail (CAT) was largely smooth, but the system still needs to evolve further to be able to handle the influx of information coming from the industry next year, its builders say.
Thesys CAT, a unit of Thesys Technologies LLC that built the CAT system, says it processed over 58 billion records of equities, options, and market data.
The first roll-out was strictly limited to self-regulatory organizations (SROs) like exchanges and groups including the
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