what is the likely issue causing the traction control light on dash?

The Antilock Brake System (ABS) and the Traction Control System work together. When the computer detects a problem with one system both systems are disabled and both warning lights come on. The most common problem is a wheel speed sensor for the ABS. Or the wiring going to one of the sensors has a bad connection. With the red Brake warning light on too, something is going on that will effect the dynamic stability of the vehicle. If the ABS and red Brake warning lights come on immediately when you start the engine and stay on, the problem is with an ABS sensor or the wiring. If the warning lights come on when you start the engine, go out after a few seconds, then come back on when you start moving the vehicle forward the problem is the pump and modulator assembly. The reason for this is because the computer does a system check of the ABS every time you start the engine. But the computer doesn't check the ABS pump and modulator assembly until the vehicle starts moving. The computer will try to run the pump one time as the vehicle begins moving forward. As for the security light, that's a whole other problem that's best left to your local GM Dealer! You can try your local Cadillac Dealer but they tend to be snooty and probably won't want to work on a 22 year old vehicle. A Cadillac security system is nothing special and your local Chevrolet Dealer can probably fix it for you. Hope that helps! Jim