by Jim Toes
Most agree with the saying, “timing is everything,” especially traders who know that being too early on a trade can hurt a P&L just as much as being wrong.
…there are many in that camp who would wager that CAT, with its extensive reporting requirements, would never have passed EO 13771..
Regarding President Trump’s Executive Order 13771 Reducing Regulation and Controlling Regulatory Costs, which requires government agencies to repeal two regulations for each new one enacted, there are people in our industry who wish it was enacted before the words Consolidated Audit Trail, or CAT, were ever spoken. Further, there are many in that camp who would wager that CAT, with its extensive reporting requirements, would never have passed EO 13771.
In an interesting article written by Tom Jordan, President of Jordan & Jordan, a strong case is made that CAT would have passed the “2-for-1” mandate and been allowed to proceed. While there are some caveats in Mr. Jordan’s piece, I encourage the read for all in our industry.
Full article here>
…But it is still a good question to ask that what if Rule 613 or the CAT NMS Plan were proposed today, with all its extensive, invasive and expensive reporting requirements would it meet President Trump’s Executive order? Well the good news is, yes, if it is done right.
by Thomas Jordan, Jordan & Jordan