In entertainment, all know the adage that “the show must go on” even in the face of trouble.

Well, the same is being said about the Consolidated Audit Trail (CAT) in the wake of Thesys removing itself and being replaced by Finra as the builder of the Securities and Exchange’s mandated securities tracking system.

J.C Mauras, VP Business Development at Fidessa (part of Ion), told Traders Magazine that he is currently working who is working with clients across the market to develop solutions that meet CAT requirements. He said the replacement of Thesys replacement should certainly not be taken as sign that the industry can take a breather from preparing for audit trail.

“Regardless of who delivers the CAT, or when – the SEC isn’t going to back off on demanding greater transparency from all participants,” Mauras said. “The replacement of Thesys as CAT provider demonstrates the complexity of this rule and the complexity of handling the datasets expected to meet regulatory obligations in the future. The datasets required to provide a robust CAT solution are not about just playing to the new rules but will also power new compliance and surveillance tools while allowing our customers to innovate with their business intelligence.”