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The CT Plan
One plan for the consolidated tape
The Consolidated Tape Plan — the CT Plan — is the new national market system (“NMS”) plan governing the public dissemination of real-time consolidated equity market data for NMS stocks. It is the unified successor to the three existing equity market data plans: the CTA Plan, the CQ Plan and the UTP Plan.
The CT Plan streamlines administrative functions and delivers greater efficiency to the industry. It is expected to go live in early 2027, and was established pursuant to an SEC order directing the U.S. equities exchanges and FINRA to act jointly in developing a single NMS plan for consolidated equity market data.
Like the plans it replaces, the CT Plan is run by an Operating Committee consisting of all the U.S. equity exchanges and FINRA, counseled by an Advisory Committee drawn from across the financial industry.
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Operating Committee →
The seven U.S. equity exchange groups and FINRA that oversee the plan.
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Advisory Committee →
Eight elected advisors representing investors, broker dealers and vendors.
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Plan Documents & Amendments →
Plan amendments, SEC directives and filings, and the CT Plan LLC agreement.
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