The breach of the Securities and Exchange Commission is stoking doubts about a vast database of trades that the agency has touted as a defense against episodes like the 2010 “Flash Crash” but is coming under fire as a hacking risk. The Consolidated Audit Trail, or CAT, would keep track of every trade and order in U.S. stock and option markets, and is designed to help the SEC analyze complex market events and detect manipulation.

Source: Wall Street Journal September 22, 2017 23:03 UTC