SEC Weighs Direct Funding for CAT Database After Citadel Won 2025 Lawsuit
Updated
Updated · Bloomberg · Aug 11
SEC Weighs Direct Funding for CAT Database After Citadel Won 2025 Lawsuit
1 articles · Updated · Bloomberg · Aug 11
Summary
The SEC is considering taking direct control of the Consolidated Audit Trail, a database that tracks trades across U.S. equities and options markets.
The review would shift CAT funding to the agency itself instead of exchanges, which often pass the costs on to brokers.
The SEC is also examining whether to administer the system directly rather than leave oversight with the external corporation that now runs the database.
The move follows Citadel Securities' court win last year challenging how the costly market-surveillance system was funded.