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SOES Bandit

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SOES bandit
A trader who exploits Nasdaq's Small Order Execution System by taking advantage of market inefficiencies. The bandit typically first enters a relatively small order to manipulate a security's price and then quickly enters a second, larger order to take advantage of the new price.
SOES Bandit
A trader who uses the Small Order Execution System on NASDAQ to manipulate prices. The SOES bandit conducts a small transaction on a security in order to affect the price, and then executes a larger transaction to take advantage of the price inefficiency. This is a form of insider trading, as the broker executing the order knows something about the market's probable movement that other market participants do not know.


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