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1. An illegal practice in which an investor with a long position on a security makes a buy order for that security and immediately cancels it without filling the order. Spoofing tends to increase the price of that security as other investors may then issue their own buy orders, which increases the appearance of demand. The first investor then closes his/her long position by selling the security at the new, higher price. Spoofing is a form of market manipulation. See also: Pump and dump.

2. The act of impersonating a person, usually over the Internet, with the intention of gaining access to another's personal or financial information. It is a means of identity theft.


Some market analysts maintain that the increased volatility in stock markets may be the result of an illegal practice known as spoofing, or phantom bids.

To spoof, traders who own shares of a certain stock place an anonymous buy order for a large number of shares of the stock through an electronic communications network (ECN). Then they cancel, or withdraw, the order seconds later.

As soon as the order is placed, however, the price jumps. That's because investors following the market closely enter their own orders to buy what seems to be a hot stock and drive up the price.

When the price rises, the spoofer sells shares at the higher price, and gets out of the market in that stock. Investors who bought what they thought was a hot stock may be left with a substantial loss if the price quickly drops back to its prespoof price.

Spoofing is a variant of the scam known as pump and dump.

References in periodicals archive ?
The researcher went on to say that one can make multiple incorrect attempts on the fingerprint scanner without providing a password, which means hackers can use one spoof fingerprint after another until they have access to the device.
Satire, spoofs and humourous digs have not only elevated in Bollywood but also on social media and TV commercials.
One rapidly begins to miss the truly inspired spoofs like "Airplane
The spoof news item was read out by a newsreader during a discussion on what Britain would be like if it was run by tabloid newspaper editors.
IPOD SPOOF 2006 competition can be found at http://www.
The latest example of cultural degeneration: The stupid "Scary Movie" franchise now has one more entry than the smart, satiric "Scream" series it originally set out to spoof.
The number of brand spoof scams flooding the Internet has exploded since May last year, according to SurfControl's Global Content Team.
Possibly best of all, though, is the opening scene, a spoof of The Ring, featuring Pamela Anderson and Jenny McCarthy, perfectly cast as inappropriately dressed Catholic schoolgirls (all cleavage and short skirts) who find themselves menaced by an evil videotape.
When producers can't come up with a new concept for a movie, a spoof of someone else's will serve them just as well.
version of the Gap is even more homogeneous than the ads it spoofs.
Altnet President Lee Jaffe adds, "Overpeer claims it spoofs up to 200 million files per month.
This spoof, which still featured Vangie, the Pinoy virtual assistant, further led to two more spoofs from the same ad agency, making light of the bad traffic situation in the Philippine national capital region