SEC approves 'Hubble Telescope' for securities markets

The U.S. Securities and Exchange Commission voted on Tuesday to approve a massive stock and options trading database, prompted by the 2010 "flash crash," aimed at helping regulators police the increasingly fast, fragmented and complex markets. The creation of a Consolidated Audit Trail establishes a regulatory central database for every trade order, execution, modification and cancellation, as mandated by the SEC in July 2012.