Not sure we're saying fraud or frog. Like in the Discover card commercial. I remember something about a leap frog rule, a few years ago, at the OTC, to keep an M&M from front trading client block orders. As I recall it was to force transparence, not give an M&M the ability to hide large block orders, then report them closed after the fact. As your posting about.
It was to keep the inter broker exchange equal to (show the same transactions) as reported at the electronic exchange.
I'll check to see if I can find something I had saved about it some where.
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