The Securities and Exchange Commission July 11 voted 3-2 to adopt a rule that requires self-regulatory organizations to establish and maintain a central repository of data that will significantly enhance the commission’s ability to monitor market trading activity.
The new Rule 613 under Regulation NMS [National Market System] directs the SROs, within 270 days of the publication of the SEC’s adopting release in the Federal Register, to submit a joint plan detailing how they will create and implement a so-called “consolidated audit trail.” The data repository will collect and identify orders, cancellations, and executions for all exchange-listed equities and ...
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