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We elaborate on various aspects of the conformal field theory of thesymmetric orbifold. We collect various results that have appeared in theliterature, and we present a coherent picture of the operator content of thisCFT, relying on the orbifold extension of the Virasoro algebra. We then focuson the large $N$-limit of this theory, discuss the OPE of two twist operators,and find various selection rules. We review how to calculate four-pointfunctions of twist operators, and we write down the most general four-pointfunction in the covering space for large $N$. We show that it depends on somefunctions that obey a set of algebraic equations, that resemble the scatteringequations. Finally, we provide a recipe on how to calculate correlationfunctions with insertions of the orbifold Virasoro generators.

Comments on the $S_N$ orbifold CFT in the large $N$-limit