Google, Infosys, IBM and the Financial Industry Regulatory Authority are among the organizations that said they plan to bid on a proposal to build a comprehensive market oversight system for U.S. securities.

Exchange operators NYSE Euronext, Nasdaq OMX Group Inc. and Bats Global Markets Inc. also said they would submit proposals, as did high-frequency trading technology provider Tradeworx Inc., which provides a system to the Securities and Exchange Commission that compiles information from private data streams about quotations and trades.

The list of 31 candidates was published on the website for the so-called consolidated audit trail that the exchanges and Finra are building.

The bidders are:

1. Araxid, Inc.
2. AxiomSL (Axiom Software Laboratories, Inc.)
3. BATS Global Markets
4. BT Group plc
5. Capgemini Financial Services USA Inc
6. CapTech
7. Cinnober Financial Technology AB
8. EPAM Systems
9. Financial Industry Regulatory Authority, Inc. (FINRA)
10. First Derivatives
11. Google Inc.
12. Grant Thornton LLP
13. GXS, Inc.
14. HCL Technologies
15. IBM – International Business Machines Corporation
16. Infosys Limited
17. J. Streicher Advisory LLC
18. Mahindra Satyam
19. Millennium IT (USA) Inc.
21. NYSE Technologies
22. RainStor
23. Sapient Corporation
24. Software AG
25. StrataQu LLC
26. SunGard Data Systems
27. Tata America International Corp.
28. Thomson Reuters
29. TradeDynamiX LLC
30. Tradeworx, Inc.
31. Wipro Limited

The audit trail, one of former SEC Chairman Mary Schapiro’s projects, will track all securities orders and trades in the U.S. from start to completion and give the agency and other regulators a powerful system to monitor the markets. The exchanges and Finra said in November they would submit the plan in December 2013, eight months later than initially expected.

Cinnober Financial Technology AB, a Stockholm-based company that offers trading and clearing platforms, also will bid for the project, according to the list. MillenniumIT, owned by the London Stock Exchange Group Plc, will also bid. The Colombo, Sri Lanka-based unit provides systems to the LSE, London Metal Exchange, Icap Plc and Turquoise, an alternative venue owned by the London market operator, the company’s website said.

Thomson Reuters Corp. and SunGard Data Systems Inc. will also seek to win the contract to build and manage the audit trail. The former is a data and information vendor while the latter provides trading and risk management systems.

Bloomberg LP, the parent company of Bloomberg News, competes with Thomson Reuters in providing financial news and information.


“On July 11, 2012, the U.S. Securities and Exchange Commission (SEC) voted to adopt Rule 613 under Regulation NMS requiring the national securities exchanges and national securities associations listed below (collectively, the SROs) to submit an NMS plan (Plan) to the SEC to create, implement, and maintain a consolidated audit trail (CAT),” the project website says.

Participants include:

  • BATS BYX Exchange
  • BATS BZX Exchange
  • BOX Options Exchange
  • C2 Options Exchange
  • Chicago Board Options Exchange
  • Chicago Stock Exchange
  • EDGA Exchange
  • EDGX Exchange
  • International Securities Exchange
  • MIAX Options Exchange
  • Nasdaq OMX BX
  • Nasdaq OMX PHLX
  • National Stock Exchange
  • New York Stock Exchange
  • NYSE Arca
  • The Nasdaq Stock Market

(Bloomberg contributed to this report.)