CAT Delayed Further as Thesys Ousted, Finra Tipped as Successor

US Consolidated Audit Trail consortium fires database processor in shock move.

Frustrations over the development of a system to track stock trades in the US reached boiling point on Thursday, as the consortium of US stock exchanges responsible for its implementation fired the technology company tasked with building and operating it.

The Consolidated Audit Trail (CAT) is an ambitious program mandated by the US Securities and Exchange Commission (SEC) to store and analyze information on trading in equities and listed options in the US. Overseen by the CAT NMS Plan, which

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