Early access to orders, also known as "early access to trading information," refers to the practice of trading on orders or trading information before it is publicly available. This can include:

1. _Access to dark pool orders_: Trading on orders in private exchanges or dark pools before they are publicly disclosed.

2. _Early access to market data_: Receiving market data or trading information before it is publicly available.

3. _Pre-trade information_: Obtaining information about trades before they are executed or publicly disclosed.

Early access to orders is a form of insider trading and is illegal because it:

1. _Undermines fair markets_: Unfairly advantages those with early access to trading information.

2. _Erodes trust_: Damages investor confidence in the markets and companies.

3. _Creates unequal access_: Favors those with early access over other investors.

Regulators, such as the Securities and Exchange Commission (SEC), enforce laws and regulations to prevent and detect early access to orders, including:

1. _Monitoring trading activity_: Identifying suspicious patterns and investigating potential early access to orders.

2. _Enforcing trading rules_: Requiring fair and transparent trading practices.

3. _Prosecuting insider trading cases_: Holding individuals and companies accountable for illegal early access to orders.

4. _Implementing market access controls_: Requiring exchanges and trading platforms to implement controls to prevent early access to orders.

By preventing and detecting early access to orders, regulators aim to maintain fair, transparent, and orderly markets.