Piggybacking

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Piggybacking

A broker who trading stocks, bonds or commodities in a personal account following a trade just made for a customer. The broker assumes that the customer is making the trade on valuable inside information.

Piggybacking

The practice in which a broker conducts a transaction on his/her own account after filling a similar order on behalf of a client. For example, if a client sells 10,000 shares and the broker owns some shares in the same company, he may piggyback by selling his own shares. A broker piggybacks when he/she believes that the client has insider information, or at least a better understanding than the broker on the market's future movements. Piggybacking should not be confused with piggy back registration, which is a different concept altogether.
References in periodicals archive ?
Your eyes go first to the black rectangle, which appears to be piggy-backing on the much larger yellow square.
Piggy-backing MarketFest materials with regular exhibitor mailings saved thousands of dollars which could be invested in other campaign materials.
Piggy-backing on the Miramar contract will entitle the Town of Davie to receive new revenue in excess of three quarters of a million dollars for the total five-year term of the agreement based on projected revenue share for the Town at the $2 per ton rate agreed with Miramar.
After a glass of champagne or eight, current Hollywood It boy Michael Fassbender, 34, twirled co-stars Viggo Mortensen and Keira Knightley on the dancefloor before tinkling the ivories and finally piggy-backing his way out the front door.
After a glass of champagne or eight, Hollywood It boy Michael Fassbender, 34, twirled co-stars Viggo Mortensen and Keira Knightley on the dancefloor before tinkling the ivories and finally piggy-backing his way out of the front door - where he stopped to have a cigarette.
According to one report, the US Department of Transportation, Hewlett-Packard, Hughes Network Systems and Unisys were among several US companies hit by the piggy-backing malware.
There does seem to be a cumulative effect, a piggy-backing effect, when so many things happen,'' says James Garbarino, a psychologist and director of the Family Life Development Center at Cornell University in Ithaca, N.