- Kingland Platform
What is the Consolidated Audit Trail?
On May 6, 2010 the “Flash Crash” disrupted the equities market, with the Dow Jones Industrial Average (DJIA) dropping in value by approximately 9% in a matter of minutes. In response to the difficulty in determining the cause of the Flash Crash, on July 18, 2012 the SEC adopted Rule 613 to create the Consolidated Audit Trail (CAT), intended to allow regulators to monitor activity throughout the U.S. securities markets. The CAT collects information on a variety of market events, including quotes, orders, routes, and trade executions for all U.S. exchange-listed equities and options, among other things. Additionally, the CAT will track the identity of accounts and customers originating this information. The development and implementation of the CAT on an industry-wide basis represents an evolution in maintaining the integrity of the financial and capital markets.
What is FINRA CAT, and what is its role?
FINRA CAT, LLC, a subsidiary of the Financial Industry Regulatory Authority, Inc. (FINRA), is the CAT Plan Processor, responsible for designing, building and running the system on behalf of the CAT Participants to collect CAT information in compliance with Rule 613.
What is Kingland’s role in CAT?
Kingland was selected by FINRA CAT to be a subcontractor responsible for implementing and operating the component of CAT required to collect, validate and store the customer and account information required in CAT, known as the Customer and Account Information System (CAIS).
What qualifies Kingland to work on CAT?
Kingland’s expertise in customer and account data dates back over 25 years, as does the Kingland track record of delivering software solutions to unique and challenging data requirements in the banking and capital markets industry. The Kingland team has decades of experience working with customer and account information for many systemically important entities including working with multiple clients to automate data sourcing and the collection and sharing of large amounts of complex data.
Use these resources to find additional information on the Consolidated Audit Trail.
CAT Registration & Onboarding
Information for CAT Reporters on how to gain access to the CAT Test and Production environments for the first time.
CAT Reporting Customer & Account Technical Spec (v1.0)
Requirements for the reporting of customer and account data to CAT by Industry Members, including detailed information about data elements and file submission.
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