Consolidated Audit Trail Requirements Published
February 26, 2013
But the RFP also notes that the “SROs are potential Bidders and some personnel of the potential SRO Bidders may be involved in both the SROs’ joint efforts as a consortium implementing the CAT and the individual SRO’s RFP response.”
That could lead to a conflict of interest. But “the proposal, like the entire process, is highly transparent and open for public comment,’’ said Richard Adamonis, senior vice president of corporate communications at NYSE Euronext. The group’s choice of a winning bidder also is subject to SEC oversight and approval.
In addition, the group is likely to develop a procedure to address conflicts of interest, according to one party with knowledge of how the RFP was developed.
Responses to the RFP are due April 25, delivery of a plan to the SEC is set for December and formal selection of a winning bidder would take place two months after the plan is approved.
The RFP for the Consolidated Audit Trail
