running ahead

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Running ahead

The illegal practice of trading in a security for a broker's personal account before placing an order for the same security for a customer.

Running Ahead

An illegal act in which a broker or other representative, just before filling a large order on behalf of a client, conducts a transaction in the same security on his/her own account. A large order to buy or sell usually affects the price of a security; the broker conducts the transaction hoping to profit on the movement in price after he/she fills the client's order. This is a form of insider trading, as the broker filling the order knows something about the market's probable movement that other market participants do not know. It is also known as tape racing.

running ahead

The illegal purchase or sale of a security by a broker for his or her personal account before execution of customer orders in the same security. If a brokerage firm issues a negative report on a company, a broker acting on the report for his or her own account before telling clients about the report would be running ahead. See also front running.
References in classic literature ?
Out through the cheering streets they fared, while the greenwood men ran ahead and flung gold pennies right and left in their joy, and bade the people drink the health of the young couple and the King.
I had seen jaloks hunting in packs, and I recalled now what for the time I had not thought of--the several that ran ahead and turned the quarry back toward the main body.
One Eye ran ahead cautiously, his mate at his heels.
Eudosia had interpolated the word "hundred," quite innocently, for, as usually happens with those to whom money is new, her imagination ran ahead of her arithmetic.
Smith said he wetted curtains for a mask and took puppy Daisy while the older dog ran ahead.
Miller ran ahead of challenger Joseph Edward Weissburg.
NASDAQ National Market: MINI) today announced that while its revenues, internal growth rate and yield for the fourth quarter of 2003 ran ahead of the comparable period of 2002, preliminary indications are that higher costs and expenses, particularly in insurance, property taxes and licensing fees will depress pro forma diluted earnings for the fourth quarter of 2003 by a few cents from the consensus analysts' estimates of $.
The Lakers ran ahead, with Walton scoring as part of a three-point play.
Lee, Simon and Ant ran ahead into a car, but Duncan decided to say hello to the screaming girls - and was almost crushed "It was frightening," says a source.
However, the Second Quarter's rate of incoming orders ran ahead of the First Quarter's and ahead of last year's Second Quarter as a result of the Company's new product offerings.
As each company raced to be first to add new browser features, both ran ahead of the World Wide Web Consortium (W3C) and official Web standards committees.