Deliver Awesome UI with the most complete toolboxes for .NET, Web and Mobile development
Automate UI, load and performance testing for web, desktop and mobile
Rapidly develop, manage and deploy business apps, delivered as SaaS in the cloud
Build, protect and deploy apps across any platform and mobile device
Automate decision processes with a no-code business rules engine
A complete cloud platform for an app or your entire digital business
Deploy automated machine learning to accurately predict machine failures with technology optimized for Industrial IoT.
Optimize data integration with high-performance connectivity
Connect to any cloud or on-premises data source using a standard interface
Build engaging multi-channel web and digital experiences with intuitive web content management
tweetmeme_source = 'drjohnbates';tweetmeme_service = 'bit.ly';
Washington, D.C., May 26, 2010 — The Securities and Exchange Commission today proposed a new rule that would require the self-regulatory organizations (SROs) to establish a consolidated audit trail system that would enable regulators to track information related to trading orders received and executed across the securities markets. http://www.sec.gov/news/press/2010/2010-86.htm
I support the SEC's intention to improve real-time market surveillance and establish a consolidated audit trail system. It's always been a worry that regulators do not have real-time access to all securities market data, but it's good to see that they are about to address the issue.
The SEC estimates it would cost the trading industry $4 billion to implement and $2.1 billion in annual maintenance to establish this system. But the US taxpayer is already fed up with the government using 'their' dollars to bail out banks and shore up an ailing financial system. They are unlikely to cheerfully approve of another government agency getting billions more of their dollars.
However, I'm not sure the solution has to be so costly. The markets have come a long way with standard protocols like FIX but also ways of normalizing heterogeneous protocols in real-time. Time series database technology, to consolidate and retain all the information on quotes, orders and trades, has been scaling up for years to handle massive increases in volumes. And low latency, high speed, monitoring technology exists and is already in place at some of these destination venues and trading participants.
I would love to see the SEC working together with other regulators, like CFTC to form a committee of market participants, exchanges, ECNs and market practitioners to hammer out a cost-effective and timely solution. May 6th could potentially happen again and the regulators must be prepared. I believe a solution could be achieved quickly and by using less taxpayer dollars than the SEC might initially think.
View all posts from John Bates on the Progress blog. Connect with us about all things application development and deployment, data integration and digital business.
Copyright © 2017 Progress Software Corporation and/or its subsidiaries or affiliates.
All Rights Reserved.
Progress, Telerik, and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See Trademarks for appropriate markings.