The "Consolidated Audit Trail" goes live tomorrow as well. Many in the GME world over at Superstonk see this as a big moment, and I find it very coincidental it is happening on the same day as this unix epoch clock moment you've pointed out, OP. All of it still requires the SEC and DOJ to take action, which we all know won't happen, but it is still very important in the grand scheme of things.
For those that don't know, the CAT going live signifies that any trade will have its CAT CAIS event (trade) and FDID (broker id), customer id, timestamp, security id information time stamp accurate and synchronized down to within 50 milliseconds. This essentially means all trades, including naked shorts, must be reported to the FIS reporting system, or it will be sent to the SEC for reporting to the DOJ.
"This comprehensive database collects and accurately identifies every order, cancellation, modification, and trade execution across all U.S. markets, allowing for more efficient and accurate tracking of trading activity. This significantly enhances market oversight by providing regulators with a comprehensive and real-time view of trading activity across U.S. markets." - Microsoft Co-Pilot.
Essentially, bad actors in the stock market have been able to hide from enforcement groups due to a lack of synchronized data they can take their time to forge and manipulate over time, since before this system, it's been up to the SEC to take their word at face value. This system creates a database where all trades, and anything that happens with these trades, are recorded within milliseconds of any action (creation, editing, completion, cancellation, etc.). They no longer control the data, and that to me can turn into something interesting real quick. Let's see what happens!
The "Consolidated Audit Trail" goes live tomorrow as well. Many in the GME world over at Superstonk see this as a big moment, and I find it very coincidental it is happening on the same day as this unix epoch clock moment you've pointed out, OP. All of it still requires the SEC and DOJ to take action, which we all know won't happen, but it is still very important in the grand scheme of things.
For those that don't know, the CAT going live signifies that any trade will have its CAT CAIS event (trade) and FDID (broker id), customer id, timestamp, security id information time stamp accurate and synchronized down to within 50 milliseconds. This essentially means all trades, including naked shorts, must be reported to the FIS reporting system, or it will be sent to the SEC for reporting to the DOJ.
"This comprehensive database collects and accurately identifies every order, cancellation, modification, and trade execution across all U.S. markets, allowing for more efficient and accurate tracking of trading activity. This significantly enhances market oversight by providing regulators with a comprehensive and real-time view of trading activity across U.S. markets." - Microsoft Co-Pilot.
Essentially, bad actors in the stock market have been able to hide from enforcement groups due to a lack of synchronized data they can take their time to forge and manipulate over time, since before this system, it's been up to the SEC to take their word at face value. This system creates a database where all trades, and anything that happens with these trades, are recorded within milliseconds of any action (creation, editing, completion, cancellation, etc.). They no longer control the data, and that to me can turn into something interesting real quick. Let's see what happens!