Cybersecurity
SEC Asked to Delay Stock Trade Database for Another Year
- Request to delay the CAT comes amid cybersecurity concerns
- System was first conceived before the 2010 Flash Crash
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U.S. stock and options exchanges want a long-delayed project to beef up regulators’ ability to monitor trading to be postponed for another year.
They’re supposed to start supplying data on trading to the Consolidated Audit Trail on Wednesday, but they want a reprieve until Nov. 15, 2018, according to a letter sent by exchanges and the Financial Industry Regulatory Authority to the Securities and Exchange Commission. The system is supposed to help the SEC catch manipulators and diagnose the causes of market routs.