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 ?
But Skype is massively successful worldwide, with something like 50million downloads, so piggy-backing on its success is a shrewd move.
It's going to be a big change for a lot of us that have really probably been used to piggy-backing on so much of his good work.
A TEENAGER died when he fell from the rear of a bin lorry on which he was apparently piggy-backing a lift home.
However, the EU has had enough of Ireland piggy-backing large corporations by giving financial incentives for them to locate here.