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A trader on an electronic exchange who anonymously places a large number of offers just above the current market price of a security etc., or a large number of bids just below it, with the aim of pushing the price up or down. The spoofer will withdraw most of the bids or offers before they are converted into trades while profiting in some other way from the movement in prices. This is considered a high-risk tactic. See also ramping.

Subjects: Financial Institutions and Services.

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