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Purchase of a security by a broker after the broker places an order for the same security for a customer. The broker hopes to profit either because of information which the customer has or because the customer's purchase is of sufficient sze to affect security prices.

Additional Comments:

This is an unethical practice.

Related Terms:

Buy Order
An order to a broker to purchase a specific quantity of a security. ...

A firm engaged in the business of effecting securities and other transactions for the accounts of ...

Running Stops
The practice of market makers entering orders for the purpose of hitting customer stop loss orders. ...

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