Saitori members of the Tokyo Stock Exchange function as middlemen in transactions between regular members. Saitori members cannot trade for their own account, nor can they accept orders from members of the public.
SAPIB
Sociedad Anónima Promotora de Inversión Bursátil (Stock Investment Promoting Corporation) - A type of Mexican company which, once registered, has a three year transition period before it is required to comply with the full regulatory regime governing public companies. The shares of a SAPIB may only be bought and traded by certain institutional and qualified investors.
Sarbanes-Oxley Act
The Sarbanes-Oxley Act of 2002, was signed into law by U.S. President George W. Bush and became effective on July 30, 2002.The Act contains sweeping reforms for issuers of publicly traded securities, auditors, corporate board members, and lawyers. It adopts tough new provisions intended to deter and punish corporate and accounting fraud and corruption, threatening severe penalties for wrongdoers, and protecting the interests of workers and shareholders.
Scrip issue
SEAQ
An electronic system for displaying market-makers' quotations in UK quotations admitted to the London Stock Exchange. SEAQ forms the interface between the market-makers and their customers allowing the entry and display of bid and ask prices on the SEAQ system.
SEAQ International
The London Stock Exchange's electronic price quotations system for non-UK equities, similar to SEAQ.
SEATS
A London Stock Exchange service which supports the trading of listed UK equities in which turnover is insufficient for the market making system.
SEC
The Securities and Exchange Commission, established by Congress to protect investors in securities transactions.
Second Marché
Second Market of Euronext Paris. This market is chiefly intended for medium-sized firms.
Secondary market
Trading in a new issue, either OTC or on an exchange, immediately following its original issuance.
