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Piggyback |
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Piggyback For brokers, to buy or sell a security for one's own account after doing the same thing for a client. Brokers generally piggyback because they believe that the client has access to privileged or even inside information to which the broker is not privy. Because of this, piggybacking is illegal. See also: SEC, Insider trading. Piggyback. A broker who piggybacks acts illegally by buying or selling a security for his or her own account after -- and presumably because -- a client has authorized that same transaction. One speculation is that a broker in this situation thinks the client is acting on information that the broker doesn't have. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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