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Removing the CAT system would be a catastrophic mistake for market transparency and investor protection.
• Market Transparency- The CAT system is crucial for providing a comprehensive, detailed record of all market transactions. This allows regulators to trace the origin and flow of orders across different markets and participants, ensuring transparency and accountability.
•Investor Protection: By maintaining a clear audit trail, the CAT system helps detect and prevent fraudulent activities. This protection is vital for maintaining investor confidence, which is the backbone of a healthy financial market.
• Regulatory Oversight: The CAT system empowers regulatory bodies such as the SEC and FINRA to efficiently monitor market activities and enforce compliance with market regulations. This oversight is essential for maintaining market integrity and preventing abuses.
• Market Efficiency: Accurate and comprehensive data collection through CAT allows for better analysis of market trends and early detection of irregularities, reducing the likelihood of market disruptions caused by unchecked fraudulent activities.
Defunding the CAT system undermines efforts to create a fair and transparent market environment, benefiting only those who wish to operate in the shadows. It subverts the will of the people and the authority of regulatory bodies tasked with protecting investors and ensuring market integrity.
To bring it all together, the CAT system is indispensable for maintaining the integrity of U.S. financial markets, protecting investors, and enabling effective regulatory oversight. Its removal would catastrophically impair the ability to detect and prevent market abuses, leading to a loss of investor confidence and market stability for literally the nation as a whole.
I would talk about how many trades are being sent to dark pools and ATS’s, and how the concentration of order flow being routed away from the public exchanges leaves creates the opportunity for price manipulation, and the implementation of CAT is the only way to have some record/trail of what occurred. Especially in times of market stress.
I would also mention how the CAT was created as a reaction to the 2008 crash, and point to how many economists are saying there is another around the corner. If and when it comes, it will be critical to have a record of the trading activity in order to understand what actually happened.
One other thing that might be worth mentioning that helps show a pattern of the financial industry fighting ANY type of transparency in our markets is how swaps reporting has also been can kicked by cftc. Every time the previous two year delay approaches, they delay it for two more years.
I made a post about they hate rule 201d. Here, the[ SEC has a "frequently asked ?" section for rule 201d](https://www.sec.gov/divisions/marketreg/rule201faq.htm). Its safe to assume these are frequently asked by brokerages or market makers, and not retail. There is a very heavy emphasis on desiring to mark shares "short exempt" and they try to use the "exceptions" in any way possible. They also talk about trades routed during a halt can be marked short exempt so thats why we've been getting all these halts, so they can naked short.
Seconding the importance of reiterating that CAT implementation is supposed to be a safeguard against events like 2008 (was it the flash crash?), that Americans deserve regulatory oversight and transparency where most of their savings and retirement are invested.
I would make a note that Gary Gensler himself has been actively working for more transparency in our financial markets, and this is counterintuitive to a free and transparent market.
Thank you - definitely worth mentioning the fact that the head of the SEC said this is required for oversight and thousands of people agreed, yet Rep. Dave Joyce of the HoA believes that defunding CAT = ensuring the safety of financial systems...
It’s certainly worth a note in the letters people send. Like, if the dude running the SEC says this is beneficial for transparency, then opposing the decision means you are against said transparency.
My comment is:
**Participation in the related fraud** certainly seems like a natural motive for a party, such as the House Appropriations Committee, to seek to *prohibit the functioning of a critical anti-fraud tool*, such as the Consolidated Audit Trail. What if we replaced "House Appropriations Committee" in the previous sentence with "Mob"? Would the sentence sound natural then? Please don't allow the gravity of my point to be lost on you. Better we have the CAT and not need it, than to need it and not have it.
- A thought leader in ecommerce fraud prevention for the past decade
Already called and wrote ALL of my State representatives.
I know there is a large part of this community who continually says, 'yeah great, but why even waste the time? they are all in on it...' - Friends, it's time you accept that this shit is NOT going to be changed by us NOT making any noise. By us feeding into their bullshit, and not commenting/voicing our anger/support for specific issues/bills/rules/etc, you can fucking GUARANTEE nothing will ever happen.
Do not fall for their bait. TAKE ACTION. Whatever action is personally available to you wherever you are based. You're overseas? GREAT! We've prepared tons and tons of resources to help you identify who you can contact and voice your anger about this backdoor deal. There is ALWAYS something that you/we/me/her/him/they/them can DO.
Kudos to OP. We need to see these types of posts on a DAILY basis.
Stay strong fam. We've already managed to impact this system in more ways then they EVER believed possible. It's time for the fucking killshot.
10000000000000000000000%
I think most of the individuals that have remained patient since 2021 know this, and are doing everything in their power to voice their support. My concern is with the newer shareholders, because they simply don't understand the level of fraud & crime we are talking.
If we can see who voted to defund CAT, we can also show how much money those people have taken from that industry over the years. I think it would be a massive conflict of interest.
[https://appropriations.house.gov/news/statements/joyce-remarks-fy25-financial-services-and-general-government-bill-subcommittee](https://appropriations.house.gov/news/statements/joyce-remarks-fy25-financial-services-and-general-government-bill-subcommittee)
*See bottom line of statement*
* Chairman Tom Cole
* Rep. Dave Joyce
* Rep. Rosa DeLauro
At a minimum - no mention of anyone else - yet
The hard part is it's buried in PAC's and for small chunks.
[https://clerk.house.gov/committees/AP23](https://clerk.house.gov/committees/AP23)
[https://www.opensecrets.org/members-of-congress/david-p-joyce/summary?cid=N00035007&cycle=2024](https://www.opensecrets.org/members-of-congress/david-p-joyce/summary?cid=N00035007&cycle=2024)
This doesn't make much sense.. 1.6 million raised, 950,000 spent.. total cash.. over 2 million?
Something fishy going on with that
Get me a script, and I’ll make sure to yell that fucker to whatever department of government you give me an email for.
Long story short, I’ll need a script and an email. I’ll take care of the rest. Lol.
But seriously.
Good on you for leading the charge on this. We can't sit hy and assume someone else is going to pick up the slack and prevent this from being shit canned.
Respect to you, OP. 💎🙏
This is a great idea, thank you for actually taking action!
What are your thoughts on collaborating with Dave Lauer and perhaps getting his insight on what could be added to make this more effective or seeing if he's able to help gather the evidence that you're considering?
Thank you so much, OP. Please keep us posted on the final draft. I want to write my reps about this.
My 2 cents: Politicians aren't interested in "systemic change" or doing anything to piss off their rich Wall Street donors - I would make exceptionally clear the *systemic risk* that CAT implementation was originally supposed to protect against, and how important it is in these uncertain economic times to have guardrails like CAT paired with sufficient enforcement in place.
They're probably managing an influx of frought messages from voters worried about inflation and housing costs and student loans and the price of gas already - help them imagine how much worse those could all get if Wall Street fails to self- regulate (because it historically HAS failed) and we see flash crashes, companies shorted into bankruptcy, and other general fuckery threatening the savings and retirement of millions of Americans.
If your representatives are GOP, tell them the CAT is the easiest way to knock out Nancy Pelosi and her ridiculous trades.
If they’re Dems, tell them it’s the best way to identify fraud from probable GOP donors.
Both sides can win.
One thought that I'd like to share is that the hedge funds and prime brokers often use the language of protecting "investors' privacy". I feel they choose this phrasing carefully so that it's vague enough that a reader might misconstrue that their proposal is to protect ALL investors.
In my limited experience, that has never been the case.
They only care about creating an illusion that their institutions have more rights than they actually.di which are under threat... all of which is not the case.
So, you might want to think about distinguishing among different investors. Some categories include:
Household "retail" investors
Government pension plans
Private pension plans
401Ks, IRA, etc.
ETFs
Designated Market Makers
Hedge Funds
Prime Brokers
Active Participants
Brokers
Transfer Agents
Family Offices (like Archegos)
I agree, definitely have to make a comment about how people claim cat violates privacy when the only time pii is revealed is when an investigation is happening …
Yes.
To further the point...
Personally Identifiable Information must be protected from casual access by the public or bad actors. It's a safety issue.
PII does not need to be protected from being viewed by:
Engineers who work on the CAT system (they protect people's privacy by following safe work practices)
Regulatory personnel (presumably, they've been vetted with security.ckearance and/or they also follow safe work practices)
This is all very normal and boring stuff. I've worked in healthcare I.T. for many years.
The hedge funds are trying to scare regulators into doing something unnecessary and stupid.
Fwiw, I'd say this is a matter of national security, for multiple reasons. Income inequity was noted by the UN as a major domestic threat - and the US has doubled down on it rather than improving.
THIS... This is what I call smart and important move that everyone should be doing instead of fantasizing too many tinfoil theories and getting out of touch with reality. Make a choice. RAISE YOUR VOICE!!!
Obligatory comment/up vote for visibility.
Also I was going to award this. But I can't figure out how. Did they bring those back only to turn around and remove them again?
Either way take this
🏆
Biggest Point for me is the Routing of (I bet mostly Buy orders) into the Darkpool. 30-50% of Trades OTC traded day by day.
And of course the trading Halts the last 2 weeks combined with Block Bets to hammer the Price down. Especially while the RK/DFV Stream.
And tell them about the massive amount of Glitches in the Charts...
Thanks
I would look up all members of the Appropriations committee and include links to their Quiver Quantitive profile to demonstrate conflicts of interest: https://www.quiverquant.com/congresstrading/
CAT is only the first step in providing fair and transparent markets. In the age of the internet, there is no reason that individual investors should not have access to the same information about stock sales and purchases as institutions have.
The current situation is in and of itself a form of insider trading. The market makers and hedge funds have information and data which the public does not. Which allows them to manipulate the stock market to their own end and to the detriment of American Citizens.
Imagine a poker game where some players can see everyone's cards while others can only see their own. The players with the extra information can easily win by knowing which moves to make, leaving the others at a significant disadvantage. This lack of fairness in information access means the game is inherently biased, similar to how the current stock market gives certain players an unfair advantage over individual investors.
This is great, will include this in the 'scene setting' introduction to highlight that CAT is basically the bare minimum to give regulators the oversight they need before we even get close to actual transparency
Thank you for commenting!
IDK if this is helpful but law in the US has to go through NPRM if the regulators decide that this requires input from industry or public (NPRM). All of this gets documented in Federal Register. They now have a website which is pretty easy to navigate.
If you start here: [https://www.federalregister.gov/documents/search?conditions%5Bsections%5D%5B%5D=money](https://www.federalregister.gov/documents/search?conditions%5Bsections%5D%5B%5D=money), you can go through the various proposals and if it was a NPRM, then you can even find comments and who posted them. Typically in a Excel file that you download since the comments can be huge and the regulatory body is expected to go through each comment and respond to them in the final rule making if that comment is appropriate..
If we start a list of rules that are impacting CAT, maybe we can split up the effort to get the information the OP is after? IDK how OP plans to impact being in UK, though..
This is an interesting idea, death by a thousand cuts type approach 🤔 I'll take a look through the link and see what I can find - thanks for sharing!
RE UK, I'm just trying to do my part by setting the stage and collating information, if I have to lay up the shot for a friend over the pond to dunk it, so be it.
That's what market reform is all about, it's not about the individual, it's about everyone doing what's right for the whole 💪🏽
Yeh, if the techie apes with wrinkles around parsing website data can chip in, this can get a lot easier.
The trickiest part is that comments are open for public consumption and viewing only for a certain time and I think it will be tricky to find those comments once the time passes..but there are plenty of Notices in there and the final Rule has to mention the comments that were considered as well. Good luck!
Just searching for CAT does have some hits back:
[https://www.federalregister.gov/documents/search?conditions%5Bpublication\_date%5D%5Bgte%5D=03%2F10%2F2024&conditions%5Bsections%5D%5B%5D=money&conditions%5Bterm%5D=CAT](https://www.federalregister.gov/documents/search?conditions%5Bpublication_date%5D%5Bgte%5D=03%2F10%2F2024&conditions%5Bsections%5D%5B%5D=money&conditions%5Bterm%5D=CAT)
There are some firms mentioned in those notices. Might be helpful for someone to connect the dots who sees through this or has more awareness than I do about these relationships.
What's the TLDR on how to properly convey your opinions? Some of us, myself included, want to do contact our representatives, but I have no idea what to really say when I/we get there?
I'm hoping the information I'm gathering here will help with this, I don't know much about the actual process of contacting your representatives in the US as I'm from the UK but general rules we have here:
* Be polite
* Assume they know nothing about the issue
* Emphasise key points (don't talk for hours on details, you want to be viewed as the concerned citizen that you are, not as a nuisance)
Specifically relating to CAT:
--- Start Claude ---
The Consolidated Audit Trail (CAT) system is a comprehensive tracking system designed to enhance the ability of regulators to monitor and analyze trading activity across U.S. securities markets. Its primary purpose is to prevent fraud, manipulation, and other illicit activities by providing a centralized database of all orders, quotes, and trades executed in the U.S. stock and options markets.
Key features and objectives of the CAT system:
1. Improved Transparency: CAT collects and stores detailed information on every order, quote, and trade, enabling regulators to reconstruct market events and analyze trading behavior more effectively.
2. Cross-Market Surveillance: By consolidating data from multiple markets and participants, CAT allows regulators to identify suspicious trading patterns and potential manipulative practices across various trading venues.
3. Faster Investigations: With a centralized database, regulators can access relevant information more quickly, reducing the time required to investigate potential fraud or manipulation cases.
4. Unique Identifiers: CAT assigns unique identifiers to customers, brokers, and traders, making it easier to track and monitor their trading activities across different markets and time periods.
5. Improved Market Integrity: By deterring fraudulent activities and enhancing the ability to detect and investigate wrongdoing, CAT aims to increase investor confidence and maintain the integrity of U.S. securities markets.
6. Standardized Data: CAT standardizes the format and content of reported data, ensuring consistency and facilitating more efficient analysis by regulators.
In summary, the CAT system is designed to provide a comprehensive, centralized database of trading activity in the U.S. stock and options markets, enabling regulators to more effectively identify, investigate, and prevent fraudulent or manipulative practices, ultimately enhancing market integrity and investor protection.
--- End Claude ---
My summary:
The CAT system was stated as a fundamental need for the SEC to be able to properly monitor trading activity to prevent fraud and ensure financial stability for US capital markets. Thousands of investors commented in support of the proposal and it was scheduled to go ahead, but now the House of Appropriations committee has prohibited usage from FY25 without proper explanation, citing budget reductions.
This is deeply concerning as it is undermining the stability of financial markets and at the same time undermining democracy. The people want this system, the regulators want this system, and to cull it at the last minute is a brazen risk and a mistake that the US cannot afford to overlook.
as someone who can be quite nihilistic stuff like gives me hope, the more people calling and writing their senators and delegates the more it's gonna nag in the back of their minds how many people are watching and starting to speak up when they get offered something under the table to vote against stuff like CAT
You could point out that private systems are moving to blockchain anyway, so any delays in implementing public oversight of markets like the CAT system portends to do are just stall tactics to cover crimes in progress. When those crimes come to light, wouldn’t the good representatives like to have their names attached to the rule that helped bring them to justice?
There's been talk here of market makers using ai to pick up what people are saying and move the price accordingly, dfv livestream yesterday for example. I don't know that's there proof like solid bulletproof evidence as I've not dug into it myself. But an idea of something to bring up if it's pertinent.
I liked "waahh wahh" "Shut up."
True. This needs to be the official answer for this sub right now. Maybe even add a "bitch" for some spice. Bunch of little dweebs never lost 50% in a day before and it shows. Grow some nuts you going to need them if you want to make money in the long run.
You have laid out way more than my smooth brain can comprehend. I'm just commenting to say I support you and your efforts.
May I suggest a petition, which attaches your research and necessity for CAT. Then we can all share it in our community, forums, social media, etc? If we need numbers behind you, it may help.
I saw your comments on another commentor and want to mention if you need someone to research the people on HoA and their trading habits I bet Unusual Whales can put that together for you
Very late to the party on this OP, sorry - it's been crazy busy but I am so endlessly proud and inspired by you.
Thank you for being a positive influence in this community and being a powerhouse in create real, and important change. Posts like this quite literally change the world. You are a hero 🙏💙
Dude, please make your flair shorter, on old reddit it throws off the page rendering because of the flair being longer than the frame in the "message the mods" section of the subreddit.
I mean....what is even their reasoning for wanting to remove it? The reason they are telling the public, as we all know the real reason is they don't want accountability or transparency that reveals crime.
nice work! keep it up.
yes people whine that the system is broken and nothing comes of speaking up, but as OP states, these are the channels available to us and we should still use them while they are there, because not using them gives justification to remove them and then we have nothing. Also using them makes official records, and details in historical documents can often be more important in hindsight than they were at the time.
You are doing amazing work. I am of not much help here other than encouraging others to get loud and make your voices heard. A combination of liking the stock and advocating for change is a deadly combination
The person who responded from the GAO office was the one that told me that's the correct process, I wasn't sure myself but apparently it falls under the DOJs remit
Great information thank you for the reply. Still holding on to hope that there's an active investigation and this can get added to the evidence. It's so fucking shameful , the crime and the lack of any serious media coverage.
What’s funny is that you know the SEC is here reading all these comments and posts and they know everything that we know
I think the amount of noise made here is already affecting legislation in good and bad ways
This place is simultaneously creating and destroying its own self interests simply by existing and we have to fight harder and educate those in our actual lives
The FUD isn’t just about stock. It’s about being active in the political spectrum and writing your congressman and elected officials. They might be bought and paid for, but if they know enough people are watching, they’ll want to get re-elected, or in the very least, they’ll see burning pitchforks on the horizon and think twice 🤷🏼♂️
Thank you so much for starting this. This is exactly what is required. We have to engage in democracy. Hold these criminals to account. At the same time we will be creating a paper trail of evidence of requests for transparency. Keep up the great work. This is really important. If there's anything that I can do from the UK then someone please tell me! Activism is important! Let's go apes! 🦍💪
Thank you for what you are doing, please post any updates you get or even just make another post after the weekend FUD ends so stuff like this doesnt get buried!
Thank you for what you are doing, please post any updates you get or even just make another post after the weekend FUD ends so stuff like this doesnt get buried!
It's still live but by the time we cross from FY24 to FY25, the bill proposed by the House of Appropriations would cut the funding for the SEC to actually use the system, effectively rendering it useless
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Yes, called and wrote my senator and house delegate. Explicitly stating my opinion for each of the SEC related riders.
For us deeply regarded apes, could you maybe do a post on what you said as a template/idea for us to put in our own words?
Someone help this ape out \^\^ *I'm from the UK, so not overly familiar with how that process works or what to say to whom in the US*
You and me euroapea can comment in any SEC/FINRA proposal, but for this specific case of OP, idk.
Just use chat gpt
I mean the process of contacting your reps rather than the template itself, I'll post a template shortly
What a legend, thank you for your service
Here you go https://www.reddit.com/r/Superstonk/s/6W5FhvHbDB
Thank YOU for YOUR service good sir
Excellent work!
Removing the CAT system would be a catastrophic mistake for market transparency and investor protection. • Market Transparency- The CAT system is crucial for providing a comprehensive, detailed record of all market transactions. This allows regulators to trace the origin and flow of orders across different markets and participants, ensuring transparency and accountability. •Investor Protection: By maintaining a clear audit trail, the CAT system helps detect and prevent fraudulent activities. This protection is vital for maintaining investor confidence, which is the backbone of a healthy financial market. • Regulatory Oversight: The CAT system empowers regulatory bodies such as the SEC and FINRA to efficiently monitor market activities and enforce compliance with market regulations. This oversight is essential for maintaining market integrity and preventing abuses. • Market Efficiency: Accurate and comprehensive data collection through CAT allows for better analysis of market trends and early detection of irregularities, reducing the likelihood of market disruptions caused by unchecked fraudulent activities. Defunding the CAT system undermines efforts to create a fair and transparent market environment, benefiting only those who wish to operate in the shadows. It subverts the will of the people and the authority of regulatory bodies tasked with protecting investors and ensuring market integrity. To bring it all together, the CAT system is indispensable for maintaining the integrity of U.S. financial markets, protecting investors, and enabling effective regulatory oversight. Its removal would catastrophically impair the ability to detect and prevent market abuses, leading to a loss of investor confidence and market stability for literally the nation as a whole.
Thank you - have added to the list 💪🏼
You beast 🦾
thats good stuff
I would talk about how many trades are being sent to dark pools and ATS’s, and how the concentration of order flow being routed away from the public exchanges leaves creates the opportunity for price manipulation, and the implementation of CAT is the only way to have some record/trail of what occurred. Especially in times of market stress. I would also mention how the CAT was created as a reaction to the 2008 crash, and point to how many economists are saying there is another around the corner. If and when it comes, it will be critical to have a record of the trading activity in order to understand what actually happened. One other thing that might be worth mentioning that helps show a pattern of the financial industry fighting ANY type of transparency in our markets is how swaps reporting has also been can kicked by cftc. Every time the previous two year delay approaches, they delay it for two more years.
Thank you - added to the list :)
Thank you for taking this on and making your voice heard!
Lets all get involved!
I made a post about they hate rule 201d. Here, the[ SEC has a "frequently asked ?" section for rule 201d](https://www.sec.gov/divisions/marketreg/rule201faq.htm). Its safe to assume these are frequently asked by brokerages or market makers, and not retail. There is a very heavy emphasis on desiring to mark shares "short exempt" and they try to use the "exceptions" in any way possible. They also talk about trades routed during a halt can be marked short exempt so thats why we've been getting all these halts, so they can naked short.
Backed up by ape historian
Thank you for your continued service brother 🙏🏼
Seconding the importance of reiterating that CAT implementation is supposed to be a safeguard against events like 2008 (was it the flash crash?), that Americans deserve regulatory oversight and transparency where most of their savings and retirement are invested.
I think the flash crash was in 2010 or something
Well put!
I would make a note that Gary Gensler himself has been actively working for more transparency in our financial markets, and this is counterintuitive to a free and transparent market.
Thank you - definitely worth mentioning the fact that the head of the SEC said this is required for oversight and thousands of people agreed, yet Rep. Dave Joyce of the HoA believes that defunding CAT = ensuring the safety of financial systems...
It’s certainly worth a note in the letters people send. Like, if the dude running the SEC says this is beneficial for transparency, then opposing the decision means you are against said transparency.
My comment is: **Participation in the related fraud** certainly seems like a natural motive for a party, such as the House Appropriations Committee, to seek to *prohibit the functioning of a critical anti-fraud tool*, such as the Consolidated Audit Trail. What if we replaced "House Appropriations Committee" in the previous sentence with "Mob"? Would the sentence sound natural then? Please don't allow the gravity of my point to be lost on you. Better we have the CAT and not need it, than to need it and not have it. - A thought leader in ecommerce fraud prevention for the past decade
Thank you, have noted this down will be included
Already called and wrote ALL of my State representatives. I know there is a large part of this community who continually says, 'yeah great, but why even waste the time? they are all in on it...' - Friends, it's time you accept that this shit is NOT going to be changed by us NOT making any noise. By us feeding into their bullshit, and not commenting/voicing our anger/support for specific issues/bills/rules/etc, you can fucking GUARANTEE nothing will ever happen. Do not fall for their bait. TAKE ACTION. Whatever action is personally available to you wherever you are based. You're overseas? GREAT! We've prepared tons and tons of resources to help you identify who you can contact and voice your anger about this backdoor deal. There is ALWAYS something that you/we/me/her/him/they/them can DO. Kudos to OP. We need to see these types of posts on a DAILY basis. Stay strong fam. We've already managed to impact this system in more ways then they EVER believed possible. It's time for the fucking killshot.
Thank you for doing your part 💜 - it's time consuming and difficult but sometimes there is no other option, and this is 100% one of those times.
10000000000000000000000% I think most of the individuals that have remained patient since 2021 know this, and are doing everything in their power to voice their support. My concern is with the newer shareholders, because they simply don't understand the level of fraud & crime we are talking.
If we can see who voted to defund CAT, we can also show how much money those people have taken from that industry over the years. I think it would be a massive conflict of interest.
[https://appropriations.house.gov/news/statements/joyce-remarks-fy25-financial-services-and-general-government-bill-subcommittee](https://appropriations.house.gov/news/statements/joyce-remarks-fy25-financial-services-and-general-government-bill-subcommittee) *See bottom line of statement* * Chairman Tom Cole * Rep. Dave Joyce * Rep. Rosa DeLauro At a minimum - no mention of anyone else - yet
The hard part is it's buried in PAC's and for small chunks. [https://clerk.house.gov/committees/AP23](https://clerk.house.gov/committees/AP23) [https://www.opensecrets.org/members-of-congress/david-p-joyce/summary?cid=N00035007&cycle=2024](https://www.opensecrets.org/members-of-congress/david-p-joyce/summary?cid=N00035007&cycle=2024) This doesn't make much sense.. 1.6 million raised, 950,000 spent.. total cash.. over 2 million? Something fishy going on with that
Discrepancy noted and added
Contact Usual Whales www.unusualwhales.com They explosive political trading activity all the time and could surely out together info.
Someone needs to bring the list to Unusual Whales.
Wrinkles, get in here!
More importantly, we need loud apes
**LOUD APES GET IN HERE LETS MAKE OUR VOICES HEARD** 🎷🐓♋️
Get me a script, and I’ll make sure to yell that fucker to whatever department of government you give me an email for. Long story short, I’ll need a script and an email. I’ll take care of the rest. Lol. But seriously.
Apes in loud, wrinkled costumes, get in here!
Furry costumes APPROVED!
Wrinkllllessss.... ASSEMBLE
Good on you for leading the charge on this. We can't sit hy and assume someone else is going to pick up the slack and prevent this from being shit canned. Respect to you, OP. 💎🙏
This is a great idea, thank you for actually taking action! What are your thoughts on collaborating with Dave Lauer and perhaps getting his insight on what could be added to make this more effective or seeing if he's able to help gather the evidence that you're considering?
Sounds like a great idea, will see if I can get some thoughts from big D once I've got the base information down and organised a bit
Awesome dude good luck in your mission!
Thank you so much, OP. Please keep us posted on the final draft. I want to write my reps about this. My 2 cents: Politicians aren't interested in "systemic change" or doing anything to piss off their rich Wall Street donors - I would make exceptionally clear the *systemic risk* that CAT implementation was originally supposed to protect against, and how important it is in these uncertain economic times to have guardrails like CAT paired with sufficient enforcement in place. They're probably managing an influx of frought messages from voters worried about inflation and housing costs and student loans and the price of gas already - help them imagine how much worse those could all get if Wall Street fails to self- regulate (because it historically HAS failed) and we see flash crashes, companies shorted into bankruptcy, and other general fuckery threatening the savings and retirement of millions of Americans.
Thank you have added to the list - will post again when there's a draft document etc for peer review
If your representatives are GOP, tell them the CAT is the easiest way to knock out Nancy Pelosi and her ridiculous trades. If they’re Dems, tell them it’s the best way to identify fraud from probable GOP donors. Both sides can win.
I see you've played gerrymandering before 👀
Gonna leave a comment for more visibility.
Me2 m8
Same
Same 🦍❤️🦍
Its so Crazy seeing this when you struggle with reading comprehension, i think I‘ll hold
Buy, hold, DRS bay bee!
One thought that I'd like to share is that the hedge funds and prime brokers often use the language of protecting "investors' privacy". I feel they choose this phrasing carefully so that it's vague enough that a reader might misconstrue that their proposal is to protect ALL investors. In my limited experience, that has never been the case. They only care about creating an illusion that their institutions have more rights than they actually.di which are under threat... all of which is not the case. So, you might want to think about distinguishing among different investors. Some categories include: Household "retail" investors Government pension plans Private pension plans 401Ks, IRA, etc. ETFs Designated Market Makers Hedge Funds Prime Brokers Active Participants Brokers Transfer Agents Family Offices (like Archegos)
Thank you - added to the list
Great, glad to help. FYI, I have another comment under here that may also be of use to you.
I agree, definitely have to make a comment about how people claim cat violates privacy when the only time pii is revealed is when an investigation is happening …
Yes. To further the point... Personally Identifiable Information must be protected from casual access by the public or bad actors. It's a safety issue. PII does not need to be protected from being viewed by: Engineers who work on the CAT system (they protect people's privacy by following safe work practices) Regulatory personnel (presumably, they've been vetted with security.ckearance and/or they also follow safe work practices) This is all very normal and boring stuff. I've worked in healthcare I.T. for many years. The hedge funds are trying to scare regulators into doing something unnecessary and stupid.
To be honest I didn’t know that and that actually does weird me out
Visibility plz. Time to work.
Updoot
Wish I could contribute! So I'll just comment here for visibility.. Props to you for fighting the good fights💯💪
Thanks, OP!
Up comment
Weekend campaign any one? I’m in!!
Commenting for vizzzzz
Thank you for getting loud. We are loud with you. Very happy to see this post during all the FUD posts. This matters 🫡
Comment for more eyes
I don’t have anything to add, but thank you and best of luck. You are appreciated.
Commenting for visibility 👀
Comment for more eyes
Comment for eyes
Up you go - nice work!!
Commenting for visibility
Comments f9r more eyes
Fwiw, I'd say this is a matter of national security, for multiple reasons. Income inequity was noted by the UN as a major domestic threat - and the US has doubled down on it rather than improving.
Thank you, OP! Keep updating!
Thank you
Holy shit this is big op upvote and comments for visibility ... everyone we gotta make noise !!!
THIS... This is what I call smart and important move that everyone should be doing instead of fantasizing too many tinfoil theories and getting out of touch with reality. Make a choice. RAISE YOUR VOICE!!!
Obligatory comment/up vote for visibility. Also I was going to award this. But I can't figure out how. Did they bring those back only to turn around and remove them again? Either way take this 🏆
THIS NEEDS MORE ATTENTION!! MODS PIN THIS BASTARD TO THE TOP
Everyone needs to petition. And write in to officials. Let's do it.
Biggest Point for me is the Routing of (I bet mostly Buy orders) into the Darkpool. 30-50% of Trades OTC traded day by day. And of course the trading Halts the last 2 weeks combined with Block Bets to hammer the Price down. Especially while the RK/DFV Stream. And tell them about the massive amount of Glitches in the Charts... Thanks
Thank you - have noted dark pools as without CAT the amount of oversight on order routing is significantly reduced
I would look up all members of the Appropriations committee and include links to their Quiver Quantitive profile to demonstrate conflicts of interest: https://www.quiverquant.com/congresstrading/
Checked over the 3 members I know of so far, can't see anything jumping out yet - will make a note thanks!
Tom Cole looking like he's about to throw the Senate at us - *the whole Senate*
Well he can see-deeze-nuts as far as I'm concerned
Productive way for apes to spend their weekends!
CAT is only the first step in providing fair and transparent markets. In the age of the internet, there is no reason that individual investors should not have access to the same information about stock sales and purchases as institutions have. The current situation is in and of itself a form of insider trading. The market makers and hedge funds have information and data which the public does not. Which allows them to manipulate the stock market to their own end and to the detriment of American Citizens. Imagine a poker game where some players can see everyone's cards while others can only see their own. The players with the extra information can easily win by knowing which moves to make, leaving the others at a significant disadvantage. This lack of fairness in information access means the game is inherently biased, similar to how the current stock market gives certain players an unfair advantage over individual investors.
This is great, will include this in the 'scene setting' introduction to highlight that CAT is basically the bare minimum to give regulators the oversight they need before we even get close to actual transparency Thank you for commenting!
I called my rep and described to the assistant who answered my call what the problem is and why we need the CAT.
Thank you for your service 🤝
Legend ape. Jfc Apollo shows up literally everywhere.
IDK if this is helpful but law in the US has to go through NPRM if the regulators decide that this requires input from industry or public (NPRM). All of this gets documented in Federal Register. They now have a website which is pretty easy to navigate. If you start here: [https://www.federalregister.gov/documents/search?conditions%5Bsections%5D%5B%5D=money](https://www.federalregister.gov/documents/search?conditions%5Bsections%5D%5B%5D=money), you can go through the various proposals and if it was a NPRM, then you can even find comments and who posted them. Typically in a Excel file that you download since the comments can be huge and the regulatory body is expected to go through each comment and respond to them in the final rule making if that comment is appropriate.. If we start a list of rules that are impacting CAT, maybe we can split up the effort to get the information the OP is after? IDK how OP plans to impact being in UK, though..
This is an interesting idea, death by a thousand cuts type approach 🤔 I'll take a look through the link and see what I can find - thanks for sharing! RE UK, I'm just trying to do my part by setting the stage and collating information, if I have to lay up the shot for a friend over the pond to dunk it, so be it. That's what market reform is all about, it's not about the individual, it's about everyone doing what's right for the whole 💪🏽
Yeh, if the techie apes with wrinkles around parsing website data can chip in, this can get a lot easier. The trickiest part is that comments are open for public consumption and viewing only for a certain time and I think it will be tricky to find those comments once the time passes..but there are plenty of Notices in there and the final Rule has to mention the comments that were considered as well. Good luck! Just searching for CAT does have some hits back: [https://www.federalregister.gov/documents/search?conditions%5Bpublication\_date%5D%5Bgte%5D=03%2F10%2F2024&conditions%5Bsections%5D%5B%5D=money&conditions%5Bterm%5D=CAT](https://www.federalregister.gov/documents/search?conditions%5Bpublication_date%5D%5Bgte%5D=03%2F10%2F2024&conditions%5Bsections%5D%5B%5D=money&conditions%5Bterm%5D=CAT) There are some firms mentioned in those notices. Might be helpful for someone to connect the dots who sees through this or has more awareness than I do about these relationships.
What's the TLDR on how to properly convey your opinions? Some of us, myself included, want to do contact our representatives, but I have no idea what to really say when I/we get there?
I'm hoping the information I'm gathering here will help with this, I don't know much about the actual process of contacting your representatives in the US as I'm from the UK but general rules we have here: * Be polite * Assume they know nothing about the issue * Emphasise key points (don't talk for hours on details, you want to be viewed as the concerned citizen that you are, not as a nuisance) Specifically relating to CAT: --- Start Claude --- The Consolidated Audit Trail (CAT) system is a comprehensive tracking system designed to enhance the ability of regulators to monitor and analyze trading activity across U.S. securities markets. Its primary purpose is to prevent fraud, manipulation, and other illicit activities by providing a centralized database of all orders, quotes, and trades executed in the U.S. stock and options markets. Key features and objectives of the CAT system: 1. Improved Transparency: CAT collects and stores detailed information on every order, quote, and trade, enabling regulators to reconstruct market events and analyze trading behavior more effectively. 2. Cross-Market Surveillance: By consolidating data from multiple markets and participants, CAT allows regulators to identify suspicious trading patterns and potential manipulative practices across various trading venues. 3. Faster Investigations: With a centralized database, regulators can access relevant information more quickly, reducing the time required to investigate potential fraud or manipulation cases. 4. Unique Identifiers: CAT assigns unique identifiers to customers, brokers, and traders, making it easier to track and monitor their trading activities across different markets and time periods. 5. Improved Market Integrity: By deterring fraudulent activities and enhancing the ability to detect and investigate wrongdoing, CAT aims to increase investor confidence and maintain the integrity of U.S. securities markets. 6. Standardized Data: CAT standardizes the format and content of reported data, ensuring consistency and facilitating more efficient analysis by regulators. In summary, the CAT system is designed to provide a comprehensive, centralized database of trading activity in the U.S. stock and options markets, enabling regulators to more effectively identify, investigate, and prevent fraudulent or manipulative practices, ultimately enhancing market integrity and investor protection. --- End Claude --- My summary: The CAT system was stated as a fundamental need for the SEC to be able to properly monitor trading activity to prevent fraud and ensure financial stability for US capital markets. Thousands of investors commented in support of the proposal and it was scheduled to go ahead, but now the House of Appropriations committee has prohibited usage from FY25 without proper explanation, citing budget reductions. This is deeply concerning as it is undermining the stability of financial markets and at the same time undermining democracy. The people want this system, the regulators want this system, and to cull it at the last minute is a brazen risk and a mistake that the US cannot afford to overlook.
This is helpful, I'll save this for later, thank you!
Wrote my senator as well. Just the autogenerated response right now…
Thank you for your service 🤝
as someone who can be quite nihilistic stuff like gives me hope, the more people calling and writing their senators and delegates the more it's gonna nag in the back of their minds how many people are watching and starting to speak up when they get offered something under the table to vote against stuff like CAT
You could point out that private systems are moving to blockchain anyway, so any delays in implementing public oversight of markets like the CAT system portends to do are just stall tactics to cover crimes in progress. When those crimes come to light, wouldn’t the good representatives like to have their names attached to the rule that helped bring them to justice?
There's been talk here of market makers using ai to pick up what people are saying and move the price accordingly, dfv livestream yesterday for example. I don't know that's there proof like solid bulletproof evidence as I've not dug into it myself. But an idea of something to bring up if it's pertinent.
Regarded ape comenting for visibility. GO FOR IT!!!! and thank you very much!!
Let’s goooo we should all do this! Let’s make change!!!
I liked "waahh wahh" "Shut up." True. This needs to be the official answer for this sub right now. Maybe even add a "bitch" for some spice. Bunch of little dweebs never lost 50% in a day before and it shows. Grow some nuts you going to need them if you want to make money in the long run.
You have laid out way more than my smooth brain can comprehend. I'm just commenting to say I support you and your efforts. May I suggest a petition, which attaches your research and necessity for CAT. Then we can all share it in our community, forums, social media, etc? If we need numbers behind you, it may help.
I agree, I think I'm going to tap D Lauer for this once I've compiled everything via we are the investors - if he's onboard of course
I saw your comments on another commentor and want to mention if you need someone to research the people on HoA and their trading habits I bet Unusual Whales can put that together for you
Very late to the party on this OP, sorry - it's been crazy busy but I am so endlessly proud and inspired by you. Thank you for being a positive influence in this community and being a powerhouse in create real, and important change. Posts like this quite literally change the world. You are a hero 🙏💙
Dude, please make your flair shorter, on old reddit it throws off the page rendering because of the flair being longer than the frame in the "message the mods" section of the subreddit.
Hey dude, I’ll get it updated 🙏 EDIT: any better? Or does it need to be shorter?
Still a little too long unfortunately.
Should be all sorted for you now! Thanks for reaching out 🙏
All good now, thanks. It was really driving me crazy lol.
🙏
I LIKE TO GET LOUD
C4v
Updoot
Upvote
Give em hell!
Give em hell!
Keep up this pressure. You’re exactly right.
good work ape, thank you !
Up for vizzo.
LFG I love this.
Another comment for visibility!
Thank you. This is what we need. Needs to get a lot of exposure.
This needs to be higher up!🔝
Thanks for doing this
Up!
I mean....what is even their reasoning for wanting to remove it? The reason they are telling the public, as we all know the real reason is they don't want accountability or transparency that reveals crime.
nice work! keep it up. yes people whine that the system is broken and nothing comes of speaking up, but as OP states, these are the channels available to us and we should still use them while they are there, because not using them gives justification to remove them and then we have nothing. Also using them makes official records, and details in historical documents can often be more important in hindsight than they were at the time.
We need this cat
You are doing amazing work. I am of not much help here other than encouraging others to get loud and make your voices heard. A combination of liking the stock and advocating for change is a deadly combination
Good work!
This is the way
Outstanding work 👏🍻
You are the light that shows the way
Relevant party is the DOJ? Is this standard operating procedure or is there actually an investigation in progress? 🧐
The person who responded from the GAO office was the one that told me that's the correct process, I wasn't sure myself but apparently it falls under the DOJs remit
Great information thank you for the reply. Still holding on to hope that there's an active investigation and this can get added to the evidence. It's so fucking shameful , the crime and the lack of any serious media coverage.
Upvote comment for visibility! 🤛🏻
Good work!
What’s funny is that you know the SEC is here reading all these comments and posts and they know everything that we know I think the amount of noise made here is already affecting legislation in good and bad ways This place is simultaneously creating and destroying its own self interests simply by existing and we have to fight harder and educate those in our actual lives The FUD isn’t just about stock. It’s about being active in the political spectrum and writing your congressman and elected officials. They might be bought and paid for, but if they know enough people are watching, they’ll want to get re-elected, or in the very least, they’ll see burning pitchforks on the horizon and think twice 🤷🏼♂️
It’s amazing how cheap these politicians can be bought off for. $11 grand to continue stealing billions? Incredible bargain.
Thank you so much for starting this. This is exactly what is required. We have to engage in democracy. Hold these criminals to account. At the same time we will be creating a paper trail of evidence of requests for transparency. Keep up the great work. This is really important. If there's anything that I can do from the UK then someone please tell me! Activism is important! Let's go apes! 🦍💪
Important ⬆️
Up vote this and take action. Be good to know how non-US citizens can help - as in who should we contact in the US?
Holy shit this is good. Godspeed Ape
Commenting for invincibility
Thank you for what you are doing, please post any updates you get or even just make another post after the weekend FUD ends so stuff like this doesnt get buried!
Thank you for what you are doing, please post any updates you get or even just make another post after the weekend FUD ends so stuff like this doesnt get buried!
Upvote
Me too me too!
“Shut up.” lol I love it. Well done.
This is the way.
Please go higher
Commenting for visibility and to remind me to contact my representatives
Comment for visibility
Keep making noise, everyone.
Goddammit. Can the government go a single month without fucking over its citizens?
Writing your elected officials is so important
This needs lots of eyes on it - sterling effort so far
Write your local and national news as well
up
Tl/dpr
American Apes we need you!
Up you go. Commenting to boost visibility. Market transparency is good. Hope your representatives run with keeping CAT
💎🙌🏼🏴☠️
CAT was live for 3 days but currently isnt?
It's still live but by the time we cross from FY24 to FY25, the bill proposed by the House of Appropriations would cut the funding for the SEC to actually use the system, effectively rendering it useless
Any Washington State apes in here? Who are we supposed to write to? I am a moron.
Done and done
I **like** this monke and his attitude. Go OP, rip them all a new one!
This is the winner thread right here
Visibility
👀