SEC Approves New Rule Requiring Consolidated Audit Trail to Monitor and Analyze Trading Activity (SEC Press Release, Fact Sheer and Open Meeting Video)

The SEC yesterday voted to require the national securities exchanges and the FINRA to establish a market-wide consolidated audit trail that will significantly enhance regulators' ability to monitor and analyze trading activity.

The new rule adopted by the SEC requires the exchanges and FINRA to jointly submit a comprehensive plan detailing how they would develop, implement, and maintain a consolidated audit trail that must collect and accurately identify every order, cancellation, modification, and trade execution for all exchange-listed equities and equity options across all U.S. markets.

View press release in full here (links externally to SEC website).