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Securities and Exchange Commission (SEC)

A U.S. government agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation. Often referred to as the federal watchdog for the stock market.

Personally Identifiable Information (PII)

Any information that can be used to distinguish or trace an individual's identity, such as name, address, date of birth, Social Security number, telephone number, email address, or IP address.

Consolidated Audit Trail (CAT)

A vast, interconnected database designed by the SEC to track all trading activity in the U.S. equities and options markets, from the moment an order is placed until it is executed or canceled. It's like a comprehensive record of every market event.

National Securities Exchange

A stock exchange (like the New York Stock Exchange or NASDAQ) registered with the SEC that provides a marketplace for buying and selling securities.

National Securities Association

An organization (like FINRA) that is registered with the SEC and regulates the practices of its member broker-dealers to protect investors and ensure market integrity.

Market Participant

Any individual or entity (like an investor, a broker, or a firm) that participates in the buying and selling of securities in the financial markets.