The Order Audit Trail System (OATS) is a computerized regulatory mechanism designed to ensure that the financial markets remain fair and transparent. OATS requires member firms of FINRA, or the Financial Industry Regulatory Authority, to automatically record and report orders for securities transactions. This system helps regulators monitor trades in order to detect any possible violations of laws or regulations that could affect investors’ interests.The data collected by OATS includes information about each trade such as when it was placed, who placed it, what type of security was traded and at what price it changed hands. The data also includes details about how long an order remained open before being filled or canceled as well as any changes made after its initial placement. All this information is stored securely on FINRA's servers so that regulators can access them whenever necessary for investigations into market abuses or other irregularities affecting investor protection measures taken by broker-dealers participating in securities trading activities regulated by FINRA rules .Overall, OATS serves an important purpose within our financial system; helping protect investors from unfair practices while ensuring transparency throughout all levels of trading activity across different markets around the world. It enables authorities to quickly identify suspicious behavior among traders which would otherwise be difficult if not impossible without access to detailed records maintained through automated systems like these provided through OATs technology solutions offered today.