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 ?
After a glass of champagne or eight, Hollywood It boy Michael Fassbender, 34, twirled co-stars Viggo Mortensen and Keira Knightley on the dancefloor before tinkling the ivories and finally piggy-backing his way out of the front door - where he stopped to have a cigarette.
They are launched by piggy-backing onto larger satellites when they take off.
The importance of keeping IT security bang up to date was confirmed last week after it emerged that several major firms had been hit by malware 'piggy-backing' its way onto company servers via fake job listings on internet ads and emails.
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.
Angry Twitter users branded the plan "shameful" and accused Habitat of "piggy-backing" on the situation to make money.
A TEENAGER died when he fell from the rear of a bin lorry on which he was apparently piggy-backing a lift home.