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Purchase of a security by a broker after the broker places an order for the same security for a customer. The broker hopes to profit either because of information which the customer has or because the customer's purchase is of sufficient size to affect security prices. This is an unethical practice.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


The act of entering a restricted area without authorization by following a person with authorization. For example, one may enter a door immediately behind a person who has the key. The term implies that the tailgater does not have the consent of the person who has access, but this is not always the case. Tailgating is a violation of security protocol and may be a form of trespassing.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


The placement of an order by a registered representative for the registered representative's own account on the basis of an order that has been received from a client. Suppose a customer calls a registered representative with an order to sell 1,000 shares of stock. If the representative sells the stock for the customer and follows it by selling additional shares of the same stock for his or her own personal account, the representative is tailgating.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


When a broker places your order for a security, and then immediately places an order for his or her own account for the same security, the broker is tailgating.

Although this practice, which is also known as piggybacking, isn't illegal, it is considered unethical, because the assumption is that the broker is trying to profit from information the broker believes you have about the stock.

A broker will typically tailgate only when you buy stock in a sufficient quantity to potentially affect the price of the security.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
* The tailgate is located at the corner of Broadway and Pacific
Tailgates are fast becoming the stand-out features on luxury pickup trucks, and the 2019 GMC Sierra is no different.
The new design minimizes frustrations of end-user service departments concerning premature tailgate chain wear and roller-box maintenance found previously on tailgates designed for Komatsu rigid frame trucks.
The Ram Multifunction Tailgate will be offered across the entire 1500 pickup truck range starting in the second quarter of 2019.
This methane then migrates along with the air stream towards the tailgate. Methane is also emitted into this space directly from the goaves through the unliquidated part of the tailgate, located behind the caving line of the longwall.
"As seen in previous behaviour studies conducted by RoadSafetyUAE and QIC Insured, once again the segment of the young drivers had the worst scores: they tailgate others more, they have less empathy with the ones they tailgate and they show the least willingness to get out of the way when they get tailgated themselves."
From the satellite dish and TV for entertainment to the chafing dishes to keep everyone fed, the Deems don't skimp on tailgate comforts.
"Tailgate grilling--either at the stadium or at home--provides a unique cooking experience, and also menu versatility,"Pelham says.
Meat has long been central in the world of grilling, with 45 percent of tailgate grillers choosing hot dogs or sausages, and 46 percent selecting hamburgers.
To help protect tailgate guests from flies, cover food that is not being eaten in tightly-sealed containers, keep dishes as cool as possible, and dispose of uneaten items immediately, recommends entomologist Ron Harrison, director of Technical Services at Orkin, Inc., Atlanta, Ga.