Paying for the CAT: Brokers and Exchanges Spar Over Bills for Massive Trading Database

Also, ABA raises concerns about regulators' quiet move to back new data standard for securities; Hsu floats extra oversight for `D-SIBS'

Brokerage firms are punching back against what they see as a ploy by the stock exchanges to jam the industry with enormous bills – starting this month – for the Consolidated Audit Trail. The battle, now playing out in a series of complicated regulatory maneuvers at the SEC, is deep in the weeds and something that perhaps only a lawyer could love. Howeve…