Reuters – The creation of a mammoth database that was ordered up in the wake of the Flash Crash will cost $255.6 million over five years to operate, according to the average cost estimate of six entities vying to build the system, a regulatory filing showed.
The database and surveillance system, dubbed the consolidated audit trail (CAT), will cost on average $53 million to build, the bidders estimated in a 166-page document that was published Wednesday [Oct. 1] by the Securities and Exchange Commission.
