Series 24: Order Audit Trail System (OATS)

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term Order Audit Trail System (OATS)...

established by FINRA to create a time-sensitive audit trail for order, quote, and trade information. OATS provides a timed record of the sequence of events involved. Specifically, OATS records the time an order is entered, the time it is executed, and the time it is modified or cancelled.

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