Consolidated Audit Trail (CAT)

SEC Rule 613 requires FINRA and the national securities exchanges to jointly submit a National Market System (NMS) plan detailing how they would develop, implement and maintain a consolidated audit trail that collects and accurately identifies every order, cancellation, modification and trade execution for all exchange-listed equities and options across all U.S. markets. FINRA is working with the exchanges to develop an NMS plan that meets the requirements of Rule 613.

 

For more information, see the CAT NMS Plan website.

 


 

FINRA CAT Bid

FINRA submitted its proposal in response to the Consolidated Audit Trail (CAT) RFP on March 21, 2014.

 


 

FINRA Participation in Industry Events

On July 29, 2014, FINRA presented key concepts of its CAT proposal at the Securities Industry and Financial Markets Association (SIFMA) CAT Bidder Summit. View the FINRA SIFMA Presentation.

 

On September 5, 2014, FINRA responded to bidder questions from the Financial Information Forum (FIF) on how FINRA’s proposal satisfies FIF recommended CAT business requirements. View the FINRA FIF Response.

 


 

Please direct any inquiries related to FINRA's bid or response to the RFP to FINRAaudittrail@finra.org.