Q 3570, [C] before [D] [C]oats before [D]eclas This part of this drop has always made me feel like investigating more. Coats? It just makes little enough sense to beg for digging. So I found:

COATS: Consolidated Options Audit Trail System I was reading up on this tonight and wondering if there's anything going on with securities and exchanges worth mentioning? Any financial people know of something coming in big just before the coming mid August revelations?

Alternately, I think from reading about it that it may be a "double meanings exist" moment. I was reading this press release from the 2010 SEC and the way they describe it sounds like the same kind of tool that may be needed/used for looking into things going on in the other kinds of Audits we are seeing:

"A consolidated audit trail system would help regulators keep pace with new technology and trading patterns in the markets. Currently, there is no single database of comprehensive and readily accessible data regarding orders and executions. Stock market regulators tracking suspicious market activity or reconstructing an unusual event must obtain and merge an immense volume of disparate data from a number of different markets and market participants. Regulators are seeking more efficient access to data through a far more robust and effective cross-market order and execution tracking system.

"If adopted, this consolidated audit trail would, for the first time ever, allow the SEC and other market regulators to track trade data across multiple markets, products and participants in real time," said SEC Chairman Mary L. Schapiro. "It would allow us to rapidly reconstruct trading activity and quickly analyze both suspicious trading behavior and unusual market events."" https://www.sec.gov/news/press/2010/2010-86.htm

Maybe worth digging from more purple than just myself, and very interesting to think on at least.