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 ?
Credit piggybacking doesn't change or erase a bad credit history or make a bad credit risk suddenly look good.
Because of the environmental emergency in Tucson, there was no other choice besides McElroy fusion equipment and piggybacking," said Shields.
And while Governor Schwarzenegger supports the benefits of piggyback contracts for California's schools, his veto has resulted in potentially even greater prohibitions against piggybacking than SB 327 proposed.
Stearns is confident the piggybacking method his company is based on will remain an option for at least another year.
Both are coming off especially strong outings, and reliever Brian Matzenbacher, who is expected to take Webb's spot in the rotation if and when the piggybacking begins, has thrown 74 innings, considered a high total for a reliever.
The Index was up 19% in the month of October over Q3 2003, piggybacking on Q3's 10% increase over Q2.
They'll see their innings cut in the final two weeks of the season, with Webb piggybacking with Slaten on his starts, a move that's effective immediately, JetHawks manager Scott Coolbaugh said.