The Consolidated Audit Trail is the US system that collects order and trade data across all national securities exchanges and FINRA members into a single repository, so that activity spanning several venues can be reconstructed as one sequence.
Also known as CAT. market microstructure · updated 2026-09-08
See also
Order audit trail— An order audit trail is the complete, timestamped, attributed record of every order message sent to a venue. It is the evidentiary…
Cross-market surveillance— Cross-market surveillance joins data from several venues or several instruments to detect schemes that are invisible in any one of…