On August 6, the US SEC unveiled a timetable for the new consolidated tape plan. What will it take to get the new plan operational in a year? In a separate order, the regulator has also opened the door for competing consolidators. This session will address: Briefly, what is the new consolidated tape plan? How does it differ from the current plan? Is the timeline realistic? Is it genuine or aspirational? What do market participants need to do to prepare? How did the SROs arrive at this plan? What were their considerations? Do they still have concerns? Who should care about competing consolidators? Just HFTs? What effect will decentralized consolidators have on latency, best execution, and commercial arrangements?