---
title: "Consolidated Audit Trail (CAT) Compliance | Pico"
description: "Simplify SEC Rule 613 and CAT NMS compliance: nanosecond-precision timestamps, NIST-traceable clock synchronization, and zero-impact deployment on existing trading infrastructure."
source: https://www.pico.net/products/corvil-analytics/consolidated-audit-trail/
markdown_url: https://www.pico.net/products/corvil-analytics/consolidated-audit-trail.md
---

# Consolidated Audit Trail (CAT)
Making compliance simpler, faster, cheaper: Corvil simplifies data collection and timestamping for events within an order's lifecycle that must be reported to the Consolidated Audit Trail.

- Nanosecond-precision timestamps for current and future regulatory tightening
- NIST-traceable clock synchronization with continuous integrity monitoring
- Non-intrusive deployment, no trading system changes required
- Automated compliance reports and real-time synchronization alerts

## What is the Consolidated Audit Trail?

The SEC mandated greater precision for capturing time and events within trading networks through Rule 613 and the CAT NMS Plan. Corvil simplifies compliance by deploying non-intrusively as an overlay on existing infrastructure, seeing all trading activity without requiring system configuration changes. This removes the need for trading venues and participants to overhaul internal IT systems while providing nanosecond-precision timestamps with NIST traceability.

## Capabilities and related products

### NIST Traceability

Independent, continuous assessment and record of clock synchronization integrity compared to the NIST reference.

### Automated Reports

Automatically generated compliance reports reduce time and risk associated with regulatory reporting obligations.

### Trading Analytics

The Corvil Analytics platform providing nanosecond-precision timestamps and order lifecycle visibility for CAT compliance.

### Corvil Connectors

Stream compliance data to Splunk, kdb+, and JDBC databases for automated regulatory reporting pipelines.

### Corvil Center

Centralized management for NIST traceability monitoring, synchronization alerts, and compliance reporting across all sites.

## Outcomes

Measurable compliance improvements with reduced cost and complexity.

### Lower Regulatory Risk

Lower regulatory tail-risk to the business from non-compliance with SEC timing requirements.

### Reduced Complexity

Minimize trading systems changes to capture order data with precision timestamps: deploy as a passive overlay.

### Lower Costs

Reduce implementation complexity and costs: one firm accelerated their compliance timeline by three months.

### Future-Proofed

Nanosecond precision addresses current requirements and future-proofs against more stringent regulatory rules.

## Frequently asked questions

Everything you need to know about Corvil and CAT compliance.

### How does Corvil help with CAT compliance?

Corvil simplifies data collection and timestamping for events within an order's lifecycle that must be reported to the Consolidated Audit Trail. It deploys non-intrusively as an overlay on existing infrastructure, capturing all trading activity with nanosecond-precision timestamps without requiring configuration changes to trading systems.

### What is NIST-traceable clock synchronization?

Corvil's NIST Traceability Solution delivers an independent, continuous assessment and record of clock synchronization integrity compared to the NIST reference. It monitors in real time, alerts operations teams to any loss or disruption of synchronization, and automatically identifies orders whose timestamp accuracy may be suspect, providing records for closer examination, auditability, and regulatory reporting.

### Does Corvil require changes to trading systems?

No. Corvil gathers reportable event data non-intrusively by passively tapping network packets. This minimizes the need to retrofit trading systems to meet regulatory demands. One investment firm reduced risk and accelerated their compliance timeline by three months by deploying Corvil to replace bespoke and manual processes dependent on system logging.

### What SEC requirements does Corvil address?

Corvil addresses SEC Rule 613 and the CAT NMS Plan timing requirements. Nanosecond precision addresses current requirements and future-proofs against more stringent regulatory rules that may require sub-millisecond timestamp accuracy.

### How does Corvil identify suspect timestamps?

Corvil monitors clock synchronization in real-time and automatically identifies orders whose timestamp accuracy may be suspect due to synchronization drift or disruption. These records are flagged for closer examination and included in compliance reports for regulatory auditability.

### Does Corvil generate compliance reports automatically?

Yes. Corvil automatically generates compliance reports that document clock synchronization status, timestamp integrity, and any orders flagged for review. This reduces the time, cost, and risk associated with manual regulatory reporting processes.

### Can Corvil be used alongside existing compliance tools?

Yes. Corvil Connectors stream compliance data to Splunk, Elastic, kdb+, and JDBC databases for integration with existing compliance infrastructure. The Corvil API provides programmatic access for custom compliance workflows and automated reporting pipelines.

## Simplify your CAT compliance

Talk to a Corvil specialist about NIST-traceable timestamps and automated compliance reporting for your trading infrastructure.