The Securities and Exchange Commission is scheduled to vote May 26 on rules requiring national securities exchanges to give regulators data for a consolidated audit trail that collects and aggregates real-time market data, SEC Chairman Mary Schapiro said Thursday.
The May 6 temporary stock market plummet has put pressure on the SEC to speed up its creation of a single market trail. Schapiro has said she wants a "continuous reporting mechanism for market participants that would capture the data needed for effective cross-market surveillance."
Schapiro made her comments at a hearing on the May 6 incident. That day the stock market plunged nearly 1,000 points before staging a partial recovery. Regulators have not pinpointed a single cause for the drop, and said activity in the futures markets may have been one factor.
