FTEN, which is marketing technology that it contends can solve both issues, said it expected the
In its
The SEC is set to
Also Wednesday, FTEN is set to sponsor and its CEO, Ted Myerson, moderate a roundtable in NewYork on the creation of a consolidated audit trail, at a meeting of the
When it first made its audit trail proposal, the SEC said the initiative could cost $6 billion in the first year and $4.1 billion each year thereafter.
LaFever said Monday he believed FTEN's RiskXposure Secure Data Cloud technology could create a "golden copy" of all orders and transactions, naked or otherwise, and keep track of both details of the transactions and the risk controls applied.
In so doing, he saw "no reason" a single system applied to both SEC initiatives could not be created that, at the outside, would cost any more than $1 billion. And serve both purposes.
He said he was "not sure if (RiskExposure technology) is better" than other systems that could serve the dual purposes. "But no one else is doing it,'' he said.
The RiskXposure Secure Data Cloud technology "currently provides real-time risk management and surveillance for up to 17 billion executed shares of U.S. equities and $150 billion in risk calculations per day,"