Exchanges to Ask SEC to Delay Deadline for Audit Trail Program
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U.S. stock and options market operators and an industry regulator plan to ask the Securities and Exchange Commission to extend the deadline for when they must submit a plan for a comprehensive market oversight system.
The so-called consolidated audit trail, one of SEC Chairman Mary Schapiro’s flagship projects, would track all securities orders and trades in the U.S. from start to completion and give the agency and other regulators a powerful system to monitor the markets. The exchanges and Financial Industry Regulatory Authority said they would seek an eight-month delay to December from April next year, according to a document they published on a website devoted to the initiative on Nov. 29.