An SEC proposal approved Wednesday would create a single database to track all U.S. equity and options trading.
The database, called the consolidated audit trail, would contain information supplied by self-regulatory organizations — registered exchanges and the Financial Industry Regulatory Authority — and broker-dealers on a range of elements that would show the lifecycle of every order and transaction in the U.S. equity and options markets, the Securities and Exchange Commission said in a news release.
Information to be supplied to the database will include identification or the customer submitting the order, the broker routing or executing the order, and the order’s date and time, price, size and type.
The repository would be operated by the self-regulatory organizations through a jointly owned Delaware-based limited liability company, with an advisory committee comprising broker-dealers, investors and regulatory experts.
The proposal was submitted by the New York Stock Exchange, Nasdaq, BATS Global Markets and FINRA under the SEC’s Regulation National Market Structure.
The proposal will be open for a 60-day comment period pending publishing of the plan in the Federal Register, expected by the end of this week.
